MDS aims to stem losses in MDS Proteomics

MDS Inc and MDS Proteomics (MDSP) are working to develop a new business plan and execute a financial reorganization for the troubled proteomics subsidiary. The moves will see MDS Inc’s holdings in MDSP decrease to less than 50% and its funded debt converted into equity. MDS will inject $15 million into MDSP in return for access to tax assets and aim for breakeven cash flow by 2005. The new business plan will see MDSP focus on biomarker identification, lead optimization and protein analysis services....