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Tm Biosciences Pockets $9M Through Convertible Note Sale

NEW YORK, Nov. 23 (GenomeWeb News) - Toronto-based Tm Biosciences has pocketed $9 million through the sale of a convertible note to Laurus Master Fund, the company said today.

 

Laurus has also been issued a warrant to buy approximately 740,000 common shares in Tm at a price of $2.61. The warrant expires in 2010.

 

Jim Pelot, TM's chief financial officer, said the transaction allows the company to "retire its existing debt ensuring that [it has] suitable working capital" to grow its business.

The Scan

Guidelines for Ancient DNA Work

More than two dozen researchers have developed new ethical guidelines for conducting ancient DNA research, which they present in Nature.

And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

Nature Papers on Esophageal Cancer, Origin of Modern Horses, Exome Sequencing of UK Biobank Participants

In Nature this week: genetic and environmental influences of esophageal cancer, domestic horse origin traced to Western Eurasian steppes, and more.