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Gold/Mining/Energy : TM Bioscience Corp. tmc.v

TMC 6.530

+6.1%

11:52 AM EST

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To: Dave E. who wrote (91)	1/11/1999 10:17:00 AM
From: Rhys Roberts	Read Replies (1) of 137

Tm Bioscience achieves Affymetrix proof of concept TORONTO, Jan. 11 /CNW-PRN/ - VSE - TMC Tm Bioscience announced today that the collaboration steering committee unanimously agreed that Tm Bioscience has achieved proof of concept in their collaboration with Affymetrix. The proof of concept involved incorporation of Tm's normalization technology in Affymetrix GeneChips® for p53-cancer and HIV. As provided in the collaboration agreement announced March 12, 1998, the companies are revising the original milestones based on findings made during the proof of concept phase. Work on the collaboration will be carried out at Tm's research and development facility in Toronto, Ontario. ''It's been a long time coming and we are very excited to receive this third party validation,'' said Don MacAdam, President and CEO of Tm Bioscience. ''Now that proof of concept has been achieved, we look forward to accelerating the pace of our collaboration. Affymetrix is the leading biochip manufacturer in the world and therefore this validation clearly demonstrates our expertise in DNA based technologies.'' Tm Bioscience is an emerging Canadian biotechnology company developing and commercializing proprietary DNA based technologies for application in biochips, diagnostics and genomic analysis. The Company offers pharmaceutical and biotechnology companies the ability to develop novel nucleic acid-based products for medical and research applications. Additional information about Tm Bioscience can be found at www.tmbioscience.com. Tm Bioscience trades on the Vancouver Stock Exchange under the symbol TMC and has approximately 69 million shares outstanding. THE VANCOUVER STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY AND ACCURACY OF THIS NEWS RELEASE SOURCE: Tm Bioscience

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