-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TlR7Mo7ocn/juJwLDr3NOIRR47WBpZ52RRdqWDl0eAcOkipTjEkSA4QpZOKtzK+O GZskNwoBUfUvllHiKCOOww== 0000914317-05-000369.txt : 20050202 0000914317-05-000369.hdr.sgml : 20050202 20050202132612 ACCESSION NUMBER: 0000914317-05-000369 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050127 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050202 DATE AS OF CHANGE: 20050202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDISCIENCE TECHNOLOGY CORP CENTRAL INDEX KEY: 0000064647 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 221937826 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-07405 FILM NUMBER: 05568464 BUSINESS ADDRESS: STREET 1: 1235 FOLKESTONE WY CITY: CHERRY HILL STATE: NJ ZIP: 08034 BUSINESS PHONE: 6094287952 MAIL ADDRESS: STREET 1: 1235 FOLKESTONE WAY CITY: CHERRY HILL STATE: NJ ZIP: 08034 FORMER COMPANY: FORMER CONFORMED NAME: CARDIAC TECHNIQUES INC DATE OF NAME CHANGE: 19730920 8-K 1 form8k-65609_mediscience.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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) January 27, 2005 ----------------- MEDISCIENCE TECHNOLOGY CORP. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) New Jersey 0-7405 22-1937826 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 1231 Folkestone Way, PO Box 598, Cherry Hill, New Jersey 08034 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (856) 428-7952 -------------- Not Applicable -------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 1 Registrants Business and Operations Item 1.01. Entry into a material definitive agreement Agreement dated Jan. 21, 2005 between Mediscience Technology Corp. and Dr. Julian Kim. The text of this agreement is filed as Exhibit 99.1 hereto. A copy of the Company's Press Release issued to announce the entering into the aforementioned agreement is filed as Exhibit 99.2 hereto. (Submitted in full compliance with sections 8-K 1.01 and 2.01 re: "materiality" as applicable and in fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure, and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. Item 9.01 Financial Statements and Exhibits c) Exhibits EX-99.1 2 exhibit99-1.txt 99.1 CONSULTANT RESEARCH AND DEVELOPMENT AGREEMENT dated January 21, 2005 by and - -------------------------------------------------------------------------------- between the Registrant and Dr. Julian Kim - ----------------------------------------- This Agreement is made on January 21, 2005 between Mediscience Technology Corp. (MTC) 1235 Folkstone way, Cherry Hill NJ, 08034 and Dr. Julian Kim, M.D (JK)., Cleveland Clinic Foundation Department of General Surgery Desk A80, 9500 Eucid Ave., Cleveland, OH 44195. Consultant (JK) has extensive experience in breast cancer diagnosis and treatment with a specific interest in the : "exploration of breast milk ducts to screen and diagnose for potential disease, including but not limited to breast cancer and (MTC) seeks to benefit from the Consultant's expertise by retaining the Consultant as an exclusive Technical/Medical Consultant. In (MTC) adaptation of the Company's proprietary CD-Ratiometer and CD-Map to couple with a micro-endoscope to enable native fluorescence measurements of breast ducts. The Consultant wishes to perform consulting services for the MTC. Accordingly, MTC and the Consultant agree as follows: 1. Services a. The consultant shall provide advice and consulting services to the Company with respect to matters related to: (i) Allow MPD/CUNY to observe surgical procedures at the Cleveland Clinic in the area of milk ducts interrogation and provided detailed annotation following same surgical procedure. (ii) Provide ongoing input with regard to design and packaging (iii) Provide detailed historical narrative of ductile progression and opinion as to what medically and technically could be possible in the future. (iv) Provide use of an instrument of his choice for (MTC) use in Phase I of the project. The Consultant shall be engaged by the MTC as a consultant for the exchange of ideas only and under the terms of this Agreement, shall not direct or conduct or participate in fund raising of any kind for or on behalf of the Company. Any such activity which may be conducted shall be carried out solely and only by (MTC) management or designees 2. Compensation and Expenses: As the full and sole consideration for the consulting services provided by the Consultant related to Phase 1 ONLY the Company shall pay to the Consultant an hourly rate of $500 per hour upon submitted invoice. Any amount to exceed $3000 per month will require pre-authorization by the Company.The Company will reimburse Consultant for reasonable out of pocket expenses. The Consultant will submit proposed expenses for pre-approval to Company. Compensation and Expenses will be paid within 15 days of submitted invoicing. 3. Competition: The Consultant represents to the Company that the Consultant does not have any agreement to provide consulting services to any other party, firm, company or project in the area of breast milk duct interrogation on matters relating the scope and/or particulars of this MTC project consultancy, and will not enter into any such agreement during the term of this Agreement. 4. Confidentiality a. The parties may wish, from time to time, in connection with work contemplated under this Agreement, to disclose confidential information to each other ("Confidential Information"). Each party will use reasonable efforts to prevent the disclosure of any of the other party's Confidential Information to third parties for a period of seven (7) years from receipt thereof. The recipient may --------------- acquire information that pertains to the discloser's processes, equipment, programs, developments, or plans that is both (i) disclosed or made known by the disclosure to the recipient and (ii) identified in writing as "proprietary" by the disclosure. The recipient agrees not to disclose any Confidential Information to third parties or to use any Confidential Information for any purpose other than performance of the services contemplated by this Agreement, without prior written consent of the Company. b. Confidential Information subject to paragraph 4(b) does not include information that (i) is or later becomes available to the public through no breach of this Agreement by the recipient; (ii) is obtained by the recipient from a third party who had the legal right to disclose the information to the recipient; (iii) is already in the possession of the recipient on the date this Agreement becomes effective; (iv) is independently developed by recipient; or (v) is required to be disclosed by law, government regulation, or court order. In addition, Confidential Information subject to paragraph 4(b) does not include information generated by the Consultant unless the information (i) is generated as a direct result of the performance of consulting services under this Agreement. 5. Return of Materials:The Consultant agrees to promptly return, following the termination of this Agreement or upon earlier request by the Company, all drawings, tracings, and written materials in the Consultant's possession and (i) supplied by the Company in conjunction with the Consultant's consulting services under this Agreement or (ii) generated by the Consultant in the performance of consulting services under this Agreement. 6. Intellectual Property a. All present and future parties to this agreement specifically understand and agree that title to any inventions and discoveries made by or contributed to by Consultant, or other admitted future party resulting from the work performed hereunder shall reside in (MTC). b.Title to all inventions and discoveries made by (MTC) resulting from the research performed hereunder shall reside in (MTC). c.Title to all inventions and discoveries made jointly by Consultant or other admitted future party and Company resulting from the research performed hereunder shall reside in (MTC) and Company Inventorship shall be determined in accordance with U.S. Patent law. 7. 7. Term and Termination a.. This Agreement shall be for a term of 6 months, renewable upon reasonable terms and conditions as may be agreed upon by the Company and the Consultant. b. Termination of the Agreement under paragraph 8(a) above shall not affect (a) the Company's obligation to pay for services previously performed by the Consultant and acknowledged by MTC 8. Miscellaneous a. This Agreement shall inure to the benefit of and be binding upon the respective heirs, executors, successors, representatives, and assigns of the parties, as the case may be. b. The relationship created by this Agreement shall be that of independent contractor, and the Consultant shall have no authority to bind or act as agent for the Company or its employees for any purpose. c. The Company will not use the Consultant's name in any commercial advertisement or similar material used to promote or sell products, unless the Company obtains in advance the written consent of the Consultant d. Warrant exercise determined in accordance with warrant terms and this agreement paragraph 2 b. above. e. This Agreement replaces all previous agreements and the discussions relating to the subject matters hereof and constitutes the entire agreement between the Company and the Consultant with respect to the subject matters of this Agreement. This Agreement may not be modified in any respect by any verbal statement, representation, or agreement made by any employee, officer, or representative of the Company, or by any written documents unless it is signed by an officer of the Company and by the Consultant. 9. Descriptive Headings and Governing Law The descriptive headings of the several paragraphs of this agreement are inserted for convenience only and do not constitute a part of this agreement. This agreement contemplated and discribed performance is intended to be performed in the State of New York and shall be construed and enforced in accordance with, and the rights of the parties it is agreed shall be governed by, the Law of such State, without regard to principles of conflict of laws. (MTC) and (JK) hereby agree to submit any and all disputes to binding arbitration in New York City with the American Arbitration Association for full, final and binding resolution 10. Notices (MTC) Peter Katevatis Esq. 1235 Folkstone Way, Cherry Hill NJ 08034 (JK) Cleveland Clinic Foundation Department of General Surgery Desk A80, 9500 Eucid Ave., Cleveland, OH 44195. IN WITNESS WHEREOF, the parties have executed this Agreement effective the date first stated above. By: Julian Kim, M.D. (signed electronically 1/24/05) By: Peter Katevatis Esq. Chairman CEO Mediscience Technology corp. EX-99.2 3 exhibit99-2.txt 99,2 Press Release of the Company, dated: January 27, 2005 (NJ-MEDISCIENCE-TECH)(MDSC-OTCBB) Mediscience Technology Corp. Names Dr. Julian Kim as consultant for the development of the jointly proposed micro-endoscopic device utilizing MTC proprietary technology for native fluorescence molecular measurements of breast ducts CHERRY HILL, N.J. Jan 27, 2005 Mediscience Technology, Corp. (OTCBB: MDSC) announced today that Dr. Julian Kim of the Cleveland Clinic has joined the company as a consultant. Dr. Kim is a Surgical Oncologist within the CC Dept. of General Surgery and a recognized expert in the study of applications of new technologies to assess breast ductal tissue. As a consultant to Mediscience, Dr. Kim will advise its management team on matters pertaining to: "guidance and expertise into the development of the jointly proposed micro-endoscopic device - Phase I project utilizing MTC proprietary technology for native fluorescence molecular measurements of breast ducts. Seminal product development work will occur at CUNY with government regulatory approval applications to follow. Dr. Julian Kim has performed extensive studies on the use of micro-endoscopic instrumentation to perform visual assessment of the human breast ductal system. He has published several peer-reviewed manuscripts and is a leading authority on the advantages and current limitations of mammary ductoscopy. He has a special interest in methods of improving the identification of abnormal cells lining the breast ducts during the ductoscopy procedure in women with high-risk or known diagnosis of breast cancer. Quote-"It is a great privilege to collaborate with ----- Mediscience management and Dr. Robert Alfano at CUNY to determine whether the use of auto-fluorescence during mammary ductoscopy can help to identify areas of abnormality which should undergo biopsy. The Mediscience proprietary auto-fluorescent technology has the potential to markedly improve the diagnostic sensitivity and specificity of the mammary ductoscopy procedure and result in measurable improvements in patient care". Michael Engelhart Pres.COO "we continue to take advantage of our Intellectual Property in advancing the commercialization of screening and diagnostic cancer devices. We are delighted to have Dr Julian Kim of the Cleveland Clinic as a collaborator in our project - --an individual who has demonstrated an expertise in detecting cancers of the breast in early stages. About Mediscience Technology Mediscience Technology Corporation and its New York subsidiary, Medi-photonics Development Company LLC, is engaged in the design, development and commercialization of medical devices that detect cancer and physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected noninvasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the parties/company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the parties/ company's ability to implement its long-range business plan for the joint or independent development of various applications of its technology/ IP; the company's ability to enter into future agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory i.e. FDA clearances applicable to applications of the company's technology; and management of growth and other risked and uncertainties that may be detailed from time to time in the parties/company's reports filed with the Securities and Exchange Commission. This disclosure is intended to satisfy: SEC Section 6, 6.01 Regulation FD, disclosure and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. www.infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp - ---------------------------------------------------------------- www.cunyphotonics.com www.medisciencetech.com - ----------------------------------------------- Mediscience SB-2 registration filing dated Dec. 23, 2004 effective Jan 12, 2005 ------------------------------------------------------------------------------- New England Journal of Medicine July-29-2004 (capsule endoscopic technology) CITIGROUP/Smith Barney Analyst Report 10-1-2004 see Pg. 20 (MTC/Info tonics Contact Michael Engelhart, Pres/COO 201-818-0050 mengelhart@mediscience.com Peter Katevatis Esq. 215-485-0362 metpk@aol.com SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on January 27, 2005 MEDICSCIENCE TECHNOLOGY CORPORATION ss/Peter Katevatis, Chairman/CEO -----END PRIVACY-ENHANCED MESSAGE-----