The proposed city and state incentives are in the form of a stock purchase, loans, grants, research vouchers, low rent, tax relief and training funds.
Under the terms of the agreement, Amarillo Biosciences will move all operations to Kansas before the end of the second quarter of 2009. Junction City is expected to nominate a member to Amarillo’s board of directors.
Joseph Cummins, president and CEO of Amarillo, said: “This agreement is of major significance to Amarillo because these funds will help support studies of low dose oral interferon in patients with hepatitis C, influenza and chronic cough, three major diseases which impact millions of people worldwide annually.
“We are especially pleased by the professionalism and diligence which Junction City and Kansas state officials have demonstrated in our dealings to date, and are also pleased that they share our vision in the promise that our low dose oral interferon can be a therapeutic agent against a wide array of medical conditions.”