Proposed Firm Commitment public offering

                                                                    EXHIBIT 10.1

            [LOGO]
Member of NASD, MSRB and SIPC
    EMPIRE FINANCIAL GROUP, INC
   14 East 60 Street, 2nd Floor
         NY, NY I0022
         646-329-7007
         973-277-3634

Mr. Peter Katevatis
Chief Executive Officer/ President
Mediscience Technology Corporation
1235 Folkestone Way
Cherry hill, NJ 08034


Re: Proposed Firm Commitment public offering


Dear Mr. Katevatis:

We  are  pleased  to  submit  the  following  proposal  with  respect  to a firm
commitment public offering by Mediscience  Technology  Corporation's  subsidiary
for diagnostic pill called Photonic  Explorer  ("Mediscience"  or "the Company")
for a minimum of $5 million  and a maximum  of  $10,000,000,  the price of which
shall be  determined  by the market  price  prior to the  Effective  Date of the
offering closing. This letter slates certain conditions and assumptions upon the
proposed offering by Empire Financial Group (EFH). It is our intent, immediately
prior to the  Effective  Date,  to enter into a "Firm  Commitment"  Underwriting
Agreement with  MEDISCIENCE.  The Underwriting  Agreement shall provide that the
Underwriter  shall be committed  to take and pay for all of the Shares,  if none
are purchased.  The Underwriting  Agreement and related agreements shall contain
such terms and  conditions  as are  customarily  contained in agreements of such
character and among other things, provide for the following:

      a)    An underwriting  discount of eight percent (8%) of the amount raised
            in the offering.

The sale to EFH and/or its designees,  at the time of the dosing of the offering
specified in the  Underwriting  agreement  (the  "Closing  Date")  warrants (the
"Underwriters Warrants") to purchase that aggregate number of shares as would be
equal to three (3%) of the total  number of shares  sold  pursuant to the public
offering.   Neither  the  Underwriter's  Warrants  nor  any  of  the  securities
underlying   the   Underwriter's   Warrants   (Collectively,    the   Underlying
Underwriter's

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      b)    Warrants  and  Underlying   Underwriter's   Securities")   shall  be
            redeemable by the Company. The Underwriter's Warrants and Underlying
            Underwriter's  Securities  are  hereinafter  sometimes  collectively
            referred to as the "Underwriter's Securities".

      c)    The Underwriter's Warrants will be exercisable between the first and
            fifth anniversary dates of the Effective Date {the "Warrant Exercise
            Term"). EFH will agree that during the (1) year period following the
            Effective Date, it will not transfer the  Underwriter's  Warrants or
            the  underlying  Underwriter's  Securities,  except to EFH officers,
            partners or members of the selling group. The Underwriter's Warrants
            shall be  exercisable  at a price per unit equal to one  hundred and
            twenty  percent  (120%) of the public  offering  price of the common
            snares and shall be  exercisable  at any time from time to time,  in
            whole or in. part, during the warrant Exercise Term.

            The  Underwriter's  Warrants shall contain such terms and conditions
            as are  satisfactory  in form and  substance to EFH, the Company and
            their   respective    counsel,    including,    without   limitation
            anti-dilution and exercise  provisions.  At any time during the five
            (5) years  commencing  after the Effective Date of the  Registration
            Statement,   EFH  (or  the  then   holders  of  a  majority  of  the
            Underwriter's Warrants of the Underlying  Underwriter's  Securities)
            shall have the right to require  the  Company to prepare  and file a
            Post-Effective  amendment  to the  Registration  Statement  or a new
            Registration Statement, if then required under the Securities Act of
            1933 (the "Act"),  covering all or any portion of the  Underwriter's
            Warrants and/or the Underlying Underwriter's Securities, Mediscience
            Technology  Corporation  shall  bear all  expenses  incurred  in the
            preparation  and  filing  of such  Post-Effective  Amendment  or new
            Registration Statement.

            In  addition,  if at any time during the Warrant  Exercise  Term the
            Company shall prepare and file one or more  Registration  Statements
            under the Act,  with respect to a public  offering of equity or debt
            securities of the Company,  or of any such securities of the Company
            held  by  its  shareholders,   the  Company  will  include  in  such
            Registration  Statement such number of Underwriter's Warrants and/or
            Underlying Underwriter's Securities held by EFH and its designees or
            transferees as may be requested.

            The Company shall bear ail fees and expenses incurred by the Company
            in connection with the  preparation and filing of such  Registration
            Statement, in the event of such a proposed registration, the Company
            shall furnish the then holders of outstanding Underwriter's Warrants
            and Underlying  Underwriter's  Securities  with not less than thirty
            (30) days written  notice  prior to the  proposed  date of filing of
            such  Registration  Statement Such notice shall continue to be given
            during  the  Warrant   Exercise  Term  by   Mediscience   Technology
            Corporation   to  such  holders  until  such  time  as  all  of  the
            Underwriter's Warrants and Underlying  Underwriter's Securities have
            been  registered.  The  holders  of  the  Warrant  Securities  shall
            exercise  the  "piggy-back"  rights  provided  for  herein by giving
            written  notice,  within  twenty  (20)  days of the  receipt  of the
            Company's notice of its intention to file a Registration Statement


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      d)    The  Company  will  bear ail fees,  disbursements  and  expenses  in
            connection   with  the   proposed   offering,   including,   without
            limitation,   the   Company's   legal   and   accounting   fees  and
            disbursements,  the costs of preparing,  printing and delivering the
            Registration  Statement,  Prospectus and amendments,  post-effective
            amendments and supplements thereto,  the Underwriting  Agreement and
            documents and "Blue Sky"  memoranda  (all in such  quantities as EFH
            may require},  preparing and printing stock certificates and warrant
            certificates,   filing  fees,   costs  and   expenses   incurred  in
            registering  the offering  with National  Association  of Securities
            Dealers,  Inc.  (The  "NASD"),   filing  fees,  costs  and  expenses
            (including fees and  disbursements of counsel) incurred m qualifying
            the