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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. 1 for the month of December, 1998
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 __
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 __
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VISIBLE GENETICS INC.
The Company and Virology Networks have agreed to form a new company
that will produce traceable quality control and quantitative standards for
identifying HIV, Hepatitis B, Hepatitis C, CMV (cytomegalovirus, a herpes virus)
and other infectious organisms. These standards are used by laboratories to
monitor the quality of the results of tests they conduct to identify infectious
diseases. It is anticipated that the new company will also develop a large-scale
database of HIV genotypes in Europe and the United States of new and existing
HIV mutations and their resistance to specific HIV drugs. In addition, the new
entity will work to develop new methods and technology for long term, stabilized
RNA storage and will also provide independent statistical analysis of test
results.
Virology Networks is based in the Netherlands, and was founded by Dr.
Charles A. B. Boucher and Tom S. Schwartz. Both of them will be involved in the
new company. The Company will receive a 51% interest in the new entity and will
control its board of directors, in exchange for the Company's commitment to
finance the development of the business. In addition, the Company will issue to
the shareholders of Virology Networks 35,000 Common Shares. The Company expects
to enter into definitive agreements and begin operations of the new entity
during 1999.
On or about December 10, 1998, the Company issued a press release with
respect to the foregoing.
The Company hereby incorporates by reference the text of this Form 6-K
(but not the Exhibit hereto) into the Company's Registration Statement on Form
F-3 (File No. 333-6760).
Exhibit 1. Press release - "Visible Genetics Inc. Enters Agreement to
Establish Visible Molecular Standards Inc."
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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: December 15, 1998 By: /s/ Jeffrey D. Sherman
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Name: Jeffrey D. Sherman
Title: Vice President, Finance and C.F.O.
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