Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Isolagen has sold its facility located in Switzerland for approximately $6.4 million, net.
Subscribe to our email newsletter
Of the $6.4 million purchase amount, $5.85 million was paid at the time of closing and the remaining proceeds are expected within the next six weeks. The company will file a form 8-K no later than March 25, 2008 with further information regarding the material accounting implications of the sale of the Swiss facility.
Declan Daly, CEO of Isolagen, said: “The resources generated from the sale of our Swiss facility will play a key role in the further advancement of our clinical development projects for the Isolagen Therapy.”