Orbus Pharma sells Cambridge facility

Orbus Pharma’s Cambridge facility is an antibiotics facility which has the current capacity of >50 million capsules or tablets per year with existing equipment.

The purchase price of the Cambridge Property and Equipment was $700,000, from which costs related to the Property and expenses pertaining to the sale were deducted.

The net proceeds from the sale were applied to reduce a portion of the outstanding mortgage and accrued interest owing to the Business Development Bank of Canada.

Orbus Pharma is a drug development and manufacturing company engaged in oral dose pharmaceutical products for human consumption.