TPC invests $7.3 million in genetic testing technology

Guest Contributor
December 11, 2003

Tm Bioscience Corp is directing $7.3 million in new funding from Technology Partnerships Canada (TPC) towards its $25-million genetic testing program. The Toronto-based company has developed a patented micro array technology that allows up to 100 genetic tests to be run simultaneously. Its new research program includes construction of a pilot scale manufacturing facility and development of at least five genetic tests. Under the agreement, TPC will receive royalty revenues and, subject to regulatory approval, $2.5 million worth of five-year common share purchase warrants on December 31/05.


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