<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2005-02-16</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000761237</issuerCik>
        <issuerName>IMCOR PHARMACEUTICAL CO</issuerName>
        <issuerTradingSymbol>ICPH.PK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203994</rptOwnerCik>
            <rptOwnerName>TANNEBAUM LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TANNEBAUM, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>875 NORTH MICHIGAN AVENUE, SUITE 2930</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611-1901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2344957</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Previously reported.</footnote>
        <footnote id="F2">Under SEC rules, the reporting person was deemed to own the shares covered by a voting, drag-along and right of first refusal
agreement dated as of November 12, 2002 where the parties agreed to maintain IMCOR's board at seven members and to vote to
elect certain persons to the board. This voting agreement was unanimously terminated by the parties thereto. The
termination agreement was executed by the final signatory on February 16, 2005 with the termination effective as of February
1, 2005.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Louis Williams (as President of Tannebaum Ventures, LLC -- sole manager of reporting person)</signatureName>
        <signatureDate>2005-03-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
