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Gold/Mining/Energy : TM Bioscience Corp. tmc.v -- Ignore unavailable to you. Want to Upgrade?

To: Phil Cressman who wrote (48)	3/12/1998 11:28:00 PM
From: Norm Gardner	Read Replies (1) \| Respond to of 137

TO ALL: NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: TM BIOSCIENCE CORPORATION 12 March 98 close $1.10 Shares issued: 43,788,656 VSE SYMBOL: TMC MARCH 12, 1998 Tm Bioscience has Signed a Collaboration Agreement with a Manufacturer of Biochips TORONTO, ONTARIO-- Mr. Don MacAdam reports: Tm Bioscience has signed a collaboration agreement with a manufacturer of biochips. The agreement covers application of Tm's normalization of hybridization technology to biochips. Under the terms of the agreement, during an initial proof of concept stage expected to last up to 90 days, Tm must demonstrate the efficacy of its normalization technology to the satisfaction of the biochip manufacturer. Following proof of concept, the agreement provides for payment to Tm of fees and milestones up to $1 million (US) and for payment of royalties. The agreement is exclusive, except the biochip manufacturer may at any time cap the annual royalties payable to Tm at $5 million (US) in which case the agreement becomes non-exclusive. The agreement provides for sharing of third-party licensing revenue. Tm Bioscience Corporation has developed five proprietary DNA product platforms - biochips, therapeutics, diagnostics, gene expression and genomics analysis - based on its discovery of a second encoding in DNA which governs DNA interactions with itself and with other molecules. Applied to biochips, the company's normalization technology provides that all sequences of DNA, independent of "GC" content, hybridize to a probe array with equal efficacy, thereby improving the quality of the biochip output data. -30-