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Biotech / Medical : T/FIF, a New Plateau -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (891)	2/5/2002 1:20:39 PM
From: nigel bates	Read Replies (1) \| Respond to of 2243

Did Elan provide any kind of total for these kinds of obligation when they reported ? (I'm only starting to look at this stuff...) ...and will provide SafeScience with access to a funding facility of up to $9,612,000 to fund SafeScience's portion of the research and development funding. The proceeds of the facility are restricted to the funding of SafeScience's portion of the joint venture's costs and will be available to SafeScience through the purchase by Elan of SafeScience's Series B Preferred Stock, a fixed-priced convertible instrument. The Series B Preferred Stock will be non-voting, bear a 7% dividend payable-in- kind and be convertible into SafeScience common stock