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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT,
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
NOVEMBER 4, 1997 (NOVEMBER 3, 1997)
NU-TECH BIO-MED, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-11772 25-1411971
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
55 ACCESS ROAD
WARWICK, RHODE ISLAND 02886
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (401) 732-6520
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INDEX TO CURRENT REPORT ON FORM 8-K
OF NU-TECH BIO-MED, INC.
NOVEMBER 4, 1997
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ITEM PAGE
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ITEM 5. OTHER EVENTS 3
SIGNATURES 4
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ITEM 5. OTHER EVENTS.
On November 3, 1997, the Registrant announced that its subsidiary,
Analytical Biosystems Corporation ("ABC"), has temporarily suspended the
marketing of its Fluorescent Cytoprint Assay ("FCA"), which is a specialized
clinical laboratory assay used in assisting in the selection of chemotherapeutic
drugs most likely to be effective in treating a cancer patient's solid mass
tumor. With the suspension of current direct marketing efforts of the FCA, the
Company and ABC intend to investigate the feasibility of resuming such marketing
efforts through an alliance or joint venture whereby the FCA would be marketed
and sold through an entity having national sales capability, and the assay
performed by either ABC or an entity to whom technology has been licensed by
ABC. At the present time, the Company has not entered into any discussions with
any entity relating to the marketing and sale of the FCA or the licensing of
ABC's FCA technology, and no assurance may be given that the Company will be
able to market and sell its FCA through alternate means. ABC has ceased
processing specimens for assay, and intends to suspend its laboratory operations
in Rhode Island.
While intending to proceed with identifying alternate marketing and
sales arrangements for the FCA, the Company's presence as a full service
licensed clinical laboratory will continue through its acquisition of a majority
interest in Physicians Clinical Laboratory, Inc., whose business is presently
located and concentrated in the state of California.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
NU-TECH BIO-MED, INC.
By: /s/ J. Marvin Feigenbaum
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Name: J. Marvin Feigenbaum
Title: Chairman of the Board, President, Chief
Executive and Chief Financial Officer
Date: November 4, 1997
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