FORM 3

      U.S. SECURITIES AND EXCHANGE COMMISSION       _____________________
              WASHINGTON, D.C.  20549              |    OMB APPROVAL     |
               INITIAL STATEMENT OF                |_____________________|
        BENEFICIAL OWNERSHIP OF SECURITIES         |OMB NUMBER: 3235-0104|
                                                   |EXPIRES:             | 
                                                   | SEPTEMBER 30, 1998  |
    Filed pursuant to Section 16(a) of the         |ESTIMATED AVERAGE    |
      Securities Exchange Act of 1934,             |BURDEN HOURS         |
     Section 17(a) of the Public Utility           |PER RESPONSE 0.5     |
       Holding Company Act of 1935                 |_____________________|
    or Section 30(f) of the Investment
           Company Act of 1940
   ____________________________________________________________________________
   1. Name and Address of Reporting Person

      The Aries Trust
   _________________________________________________________________________
     (Last)                      (First)                    (Middle)
 
     375 Park Avenue
   ________________________________________________________________________
                                (Street)

    New York                         N.Y.                   10152  
   _________________________________________________________________________
     (City)                      (State)                      (Zip)

   ____________________________________________________________________________
   2. Date of Event Requiring Statement (Month/Day/Year)

       August 30, 1996   
   ____________________________________________________________________________
   3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
 
   ____________________________________________________________________________
   4. Issuer Name and Ticker or Trading Symbol
 
       Innovir Laboratories, Inc. "INVR"
   ____________________________________________________________________________
   5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
    (  ) DIRECTOR
    (X ) 10% OWNER   
    (  ) OFFICER (GIVE TITLE BELOW)
    (  ) OTHER (SPECIFY TITLE BELOW)
    _____________________________________
   ____________________________________________________________________________
   6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
 
      N/A
   ____________________________________________________________________________
   7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
      X FORM FILED BY ONE REPORTING PERSON
      ___FORM FILED BY MORE THAN ONE REPORTING PERSON

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   TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
   ____________________________________________________________________________
   |1. TITLE OF SECURITY|2. AMOUNT OF   |3. OWNERSHIP  |4. NATURE OF INDIRECT  |
   |   (INSTR. 4)       |   SECURITIES  |   FORM DIRECT|   BENEFICIAL OWNERSHIP|
   |Common Stock, par   |   BENEFICIALLY|   DIRECT (D) |   (INSTR. 5)          |
   |value, $.013 per    |   OWNED       |   OR INDIRECT|                       |
   |share               |   (INSTR. 4)  |   (I) (INSTR.|                       |
   |                    |   2,800,000+  |   5)         |                       |
   |____________________|_______________|________Direct|_______________________|

   ============================================================================
   TABLE II.A - DERIVATIVE SECURITIES BENEFICIALLY OWNED
     (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
   ____________________________________________________________________________
   1. Title of Derivative Security (Instr. 4)
 
   Class C Warrants
   ____________________________________________________________________________
   2. Date Exercisable and Expiration Date (Month/Day/Year)
        August 30, 1996                         August 30, 2006          
       Date Exercisable                          Expiration Date
   ____________________________________________________________________________
   3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

   Common Stock, par value $.013 per share            2,800,000++
              Title                              Amount of Number of Shares
   ____________________________________________________________________________
   4. Conversion or Exercise Price of Derivative Security
 
      $.50 per share, subject to certain anti-dilution adjustments
   ____________________________________________________________________________
   5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
 
      Direct
   ____________________________________________________________________________
   6. Nature of Indirect Beneficial Ownership (Instr. 5)


   ============================================================================
   TABLE II.B - DERIVATIVE SECURITIES BENEFICIALLY OWNED
     (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
   ____________________________________________________________________________
   1. Title of Derivative Security (Instr. 4)
 
   Unit Purchase Options
   ____________________________________________________________________________
   2. Date Exercisable and Expiration Date (Month/Day/Year)
        August 30, 1996                         March 1, 1998          
       Date Exercisable                          Expiration Date
   ____________________________________________________________________________
   3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

   Option to Purchase Units, each Unit          1,400,000 shares of Common
   consisting of one share of Common Stock,     Stock and 1,400,000 Class C
   par value $.013 per share and one Class      Warrants
   C Warrant

   ____________________________________________________________________________
   4. Conversion or Exercise Price of Derivative Security
 
   $.50 per Unit, subject to certain anti-dilution adjustments
   ____________________________________________________________________________
   5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
 
   Direct
   ____________________________________________________________________________
   6. Nature of Indirect Beneficial Ownership (Instr. 5)

   ============================================================================

 EXPLANATION OF RESPONSES:

   Excludes: (i) 2,800,000 shares of Common Stock issuable upon exercise of
   outstanding Class C Warrants; (ii) 1,400,000 shares of Common Stock
   issuable upon exercise of outstanding Unit Purchase Options; and (iii)
   1,400,000 shares of Common Stock issuable upon exercise of Class C
   Warrants issuable upon exercise of Unit Purchase Options, as Class C
   Warrants and Unit Purchase Options are set forth in Table II.

   Excludes 1,400,000 Class C Warrants issuable upon exercise of Unit
   Purchase Options, as Unit Purchase Options are set forth in this Table II.

 The Aries Trust

 By: Paramount Capital Asset Management, Inc.
     (f/k/a Aries Financial Services, Inc.)
     as General Partner

                                                 
 /s/ Lindsay A. Rosenwald, M.D.                  September 9, 1996    
 **  SIGNATURE OF REPORTING PERSON                     DATE         
     Name:  Lindsay A. Rosenwald, M.D.
     Title:  Chairman of the Board, President
     

   _____________________________

 **  INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
     CRIMINAL VIOLATIONS.
     SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).

NOTE:  FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED.
IF SPACE PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE

POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION 
CONTAINED IN THIS FORM ARE NOR REQUIRED TO RESPOND UNLESS THE FORM 
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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