TORONTO, March 27 /PRNewswire/ - MDS Inc. (TSE: MDS, NYSE: MDZ) announced that it will be acquiring approximately 90% of the MDS Proteomics Special Warrants for cash of $26.75, per warrant, as provided under the terms of the existing warrant indenture. MDS will exercise these Warrants at no additional cost, increasing its fully-diluted position in MDS Proteomics to 80% from the current fully- diluted interest of 71%.
``We are honouring our commitment to the special warrant holders to provide them with liquidity in a difficult market. At the same time we're pleased to be increasing our ownership position in MDS Proteomics. We remain committed to this exciting endeavour and will continue to invest in MDS Proteomics. We will proceed with the MDS Proteomics IPO when equity market conditions are more favourable. In the meantime, I am very pleased with the progress being made by the MDS Proteomics team in continuing to build and strengthen our leadership position in the functional proteomics field,'' said John Rogers, President and CEO of MDS Inc.
MDS Proteomics has announced a number of strategic initiatives and investments focused on enhancing its leadership position. These include:
- The opening of a new facility in Odense Denmark to house a protein
delivery factory that integrates biology, bioinformatics and molecular
analysis. This 30,000 square foot facility is a major centre of
expertise for our MDS Proteomics scientists. Coupled with expansions
in Toronto Ontario, Boston Massachusetts and Charlottesville North
Carolina MDS Proteomics is well positioned to anticipate and meet the
growing opportunity in the field of proteomics.
- A clinical alliance with Partners HealthCare Inc. -- an integrated
healthcare delivery system founded by Harvard Medical School teaching
affiliates Massachusetts General Hospital and Brigham and Women's
Hospital -- to further understand how protein-to-protein pathways
improve patient care.
- The acquisition of the remaining 28% of MDS Ocata, which it did not
previously own, in exchange for MDS Proteomics shares.
- A strategic alliance between MDS Proteomics and IBM Corporation which
leverages the respective expertise in computational biology, protein
biology and bioinformatics of MDS Proteomics and IBM and included a
$US 10 million equity investment by IBM... |
