Boehringer Elects to Exercise its Option Agreement with PACE.TORONTO, Ontario--(BUSINESS WIRE)--Feb. 12, 1996--THE PACE CORPORATION (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. : PACL PACL Polyaluminium Chloride (water treatment) PACL Palo Alto CARET Laboratory PACL Port Access Control List PACL Power Assurance Check Left PACL Port-Based Access Control List (Cisco) PACL Port Based Acl ) The Pace Corporation today announced that it has been advised officially by Boehringer Mannheim GmbH, (BM) that BM has decided to exercise the option agreement between Pace and BM. Dr. Jeremy Clapp, Pace President, said the Company is gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the BM decision at this time because it has come two months before the expiry of BM's option. On October 30, 1995, BM and Pace agreed to seek long term collaboration concerning technology, regulatory experience, and other expertise relative to Pace~s cardiac diagnostic tests based on Glycogen Phosphorylase glycogen phosphorylase /gly·co·gen phos·phor·y·lase/ (gli´ko-jen fos-for´i-las) see phosphorylase. BB (GPBB). BM's official advisory also initiates steps to execute the agreed upon license, which will involve royalty payments to Pace. In addition to the BM collaboration, Pace also may manufacture and market its own line of cardiac tests. The Pace Corporation is an international company which develops, manufactures, markets and distributes easy to use, inexpensive, medical diagnostic and environmental test kits. It is focussed on the early differential diagnosis differential diagnosis n. Determination of which one of two or more diseases with similar symptoms is the one from which the patient is suffering. Also called differentiation. of heart damage, North America~s leading cause of deaths, and the detection and evaluation of lead poisoning lead poisoning or plumbism (plŭm`bĭz'əm), intoxication of the system by organic compounds containing lead. in children, the largest environmental issue in the United States. Shares of The Pace Corporation are traded on the Canadian Dealing Network (PACL). CONTACT: The Pace Corporation Dr. Jeremy Clapp President & C.E.O. (905) 709-1196 or Kieran and Co. Inc. Jon W. Kieran/Cathy Hume Investor Relations (416) 868-1079 |
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