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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (509)	3/27/2001 8:02:55 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 1784

MDS Inc. Announcement 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. MDS Proteomics is a leader in the emerging field of proteomics. The company's approach bridges genomics to drug discovery by determining how proteins function at the cellular level and understanding their interaction. This is called functional proteomics. MDS Proteomics has created an integrated functional proteomics and drug discovery platform to reveal cellular pathways, identify novel targets and discover and advance the development of new therapeutic drugs and diagnostic products. MDS Proteomics is a majority-owned subsidiary of MDS Inc. >snip< ____________ You can do this when you have cash flow from an operating business. Not launching Proteomics via original plan will hurt near term earnings; but all the proteomics fireworks are saved for a later day, one that is surely coming. They might even have a few contracts and a few milestones under their belts by the time it floats. (Though if I were them I would not yet call myself "a leader" in the proteomics field.) Wilder