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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: John H. Farro who wrote (4246)	6/4/1999 11:40:00 AM
From: Jonathan Schonsheck	Read Replies (1) \| Respond to of 4342

Today's S-3A: More Kubota $ Things looking better and better! RECENT DEVELOPMENTS Paracelsian has completed its Phase 1 feasibility study for Kubota Corporation of Osaka, Japan to further develop an advanced sample preparation system which will facilitate the widespread use of Paracelsian's patented dioxin testing system known as the Ah Immunoassay(TM) to monitor the levels of dioxin in the smoke and ash of municipal waste incinerators operated by Kubota and others. An initial payment of $48,000 was received from Kubota in March 1999. Paracelsian and Kubota have begun negotiations for a definitive agreement for further development of the dioxin testing system pursuant to which another $100,000 would be paid to Paracelsian by Kubota after execution of the definitive agreement. Paracelsian and Kubota have also begun negotiations for a comprehensive agreement under which Kubota would pay Paracelsian a license fee for the use and distribution of the Ah Immunoassay. Under this arrangement, Paracelsian would receive both an initial license fee and an ongoing payment for -6- each use or sale of the assay, with a minimum annual payment required under the agreement to maintain exclusivity. Payment for the license fee is expected to be approximately $150,000 and is anticipated to be received by September 1999.