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Technology Stocks : SYNSORB (T.SYB)(SYBBF) CURE FOR CANCER?
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To: Jim Oravetz who wrote (142)7/11/2001 12:43:30 PM
From: Jim Oravetz  Read Replies (1) of 164
 
Synsorb Gets Added Milestone Payment From MDS Proteomics

CALGARY -- Synsorb Biotech Inc. (SYBB) received an undisclosed amount of additional milestone payment from MDS Proteomics relating to the sale of Synsorb's former subsidiary, INH Technologies Inc.

In a press release Wednesday, Synsorb said INH was formed to develop equipment and technology for the high throughput screening of potential drug compounds. Under the terms of the March 2000 sale, originally made to MDS Sciex and later assigned to MDS Proteomics, Synsorb received an up-front payment, and could receive up to C$1 million in milestone payments as well as royalty and other related payments on consumable and licensed items and technology.

The milestone payment was triggered by the issuance of two Japanese patents on the intellectual property position of INH in the field of high throughput screening. These patents cover methods and an apparatus for high throughput screening of compounds using frontal chromatography in combination with mass spectrometry, the company said.

Synsorb is a pharmaceutical company.

MDS Proteomics is a majority-owned subsidiary of MDS Inc. (MDZ), a health and life sciences company.

Company Web Site: synsorb.com
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