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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
FILING NO. 3 FOR THE MONTH OF APRIL, 2000
VISIBLE GENETICS INC.
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(Exact name of Registrant)
700 BAY STREET, SUITE 1000, TORONTO ON, CANADA M5G 1Z6
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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VISIBLE GENETICS INC.
On April 25, 2000, we entered into a worldwide licensing and collaboration
agreement with PE Biosystems Group whereby we gain access to certain patents and
intellectual property owned or exclusively licensed by PE Biosystems. The
agreement enables us to utilize certain PE Biosystems technology to manufacture
and sell DNA sequencing instruments, as well as manufacture and sell clinical
sequencing kits to run on DNA sequencing instruments manufactured by us, PE
Biosystems and other third parties. In addition, PE Biosystems will collaborate
with us to provide access to technology to facilitate our development and
commercialization of new diagnostic tests using the licensed technology,
particularly as it relates to the detection of disease states, genetics markers
and infectious processes.
The intellectual property includes two patents licensed to PE Biosystems
from the California Institute of Technology, Patent Nos. 5,171,534 and
5,821,058. These are the patents at issue in a patent infringement suit filed by
PE Biosystems against us which had been previously announced, and which now has
been withdrawn. In addition, we gain access to other PE Biosystems chemistry
patents, which are enabling for the manufacture of certain reagent products to
be used on PE Biosystems manufactured instruments, as well as third party
sequencing instruments.
We will pay PE Biosystems a total licensing fee of $25.0 million over a
period of four years, and will also make royalty payments to PE Biosystems
based on sales in return for access to the PE Biosystems technology and
installed instrument customer base. We may terminate the agreement upon 60
days written notice to PE Biosystems and either party may terminate the
agreement under certain other limited circumstances.
This Form 6-K contains forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks, uncertainties and
other factors which may cause our results to differ materially from
expectations. These include risks relating to the ability to obtain regulatory
approval, market acceptance of genotyping and our products and other risks
detailed from time to time in our SEC filings, including our most recent Annual
Report on Form 20-F. These forward-looking statements speak only as of the date
hereof. We disclaim any intent or obligation to update these forward-looking
statements.
We hereby incorporates by reference this Form 6-K into our Registration
Statements on Form F-3, and into the prospectuses contained therein, (File Nos.
333-67607, 333-68939, 333-91155, 333-94649 and 333-32258) and our outstanding
Registration Statements on Form S-8 and into the reoffer prospectuses contained
therein.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VISIBLE GENETICS INC.
Date: April 25, 2000 By: /S/ RICHARD T. DALY
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Name: Richard T. Daly
Title: President and CEO
