The existence of biexcitons is first shown by studying the luminescence assisted two-photon absorption of PbI//2. Two-photon absorption being allowed, resonance enhanced two-photon Raman scattering could be observed due to the giant oscillator strength of the exciton-biexciton transition. The process is used to study directly the dispersion relations of ordinary and extraordinary excitonic polaritons which exist because of the crystal anisotropy.