ID Biomedical Corp. (VSE:IDB) and Tm Technologies Inc., awholly owned subsidiary of Tm Technologies Corp. (VSE:TMC),have entered a collaborative research agreement in which IDBwill provide $600,000 and technical support to TMC.
In the 12-month agreement, the companies will seek tooptimize IDB's Cycling Probe Reaction (CPR) amplificationtechnology and DNA-based tuberculosis test, and TMC's DNAsequence reactivity optimization technology. TMC will own therights to its improved technology.
TMC of Boston will receive $1 million in cash or IDB commonshares when and if significant improvements to IDB's CPRtechnology and tuberculosis test are achieved "as a result ofintellectual property or proprietary technology provided byTMC," the companies announced.
IDB of Vancouver, British Columbia, will receive intellectualproperty rights and options to acquire licenses for technologyand products developed in the scope of the collaboration. IDBwill own all rights to any improvements to CPR or any probes,primers or other sequences developed for tuberculosis or otherrespiratory diseases.
IDB will also receive options to acquire:
-- An exclusive, non-royalty bearing license for the use oftechnology and products developed for the diagnosis of allother mycobacterial diseases.
-- An exclusive, royalty-bearing license for the use oftechnology and products developed for the diagnosis of allother mycobacterial diseases.
-- A non-exclusive, royalty-bearing license for the use oftechnology and products developed for the diagnosis of otherhuman respiratory diseases. -- Nancy Garcia
(c) 1997 American Health Consultants. All rights reserved.