A leader in the commercial genetic testing market – Tm Bioscience Corporation (TSE: TMC) – has recently amended its license agreement with Sirius Genomics to defer a $2 million license fee payment originally due on September 5, 2006.
This payment is now due in October 2007 or 90 days after completion of certain milestones by Sirius.
Amendments related to the delay of the license fee payment have been made to the interest rate calculation used when determining the aggregate amount which Tm is eligible to set off against its Licensee Fee obligations.
All other terms of the original license agreement remain as is.
Source: Tm Bioscience
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