Array BioPharma

Array BioPharma to get $32 million in cash from facilities transactions

Published in Lab Business Week, July 23rd, 2006

Array BioPharma, Inc., (ARRY) has completed a series of agreements with its existing landlords for its Boulder and Longmont, Colorado facilities and with BioMed Realty Trust, Inc., (BMR) a real estate investment trust, under which Array will assign options to purchase its facilities to BioMed.

BioMed will purchase the Boulder and Longmont facilities and then lease those facilities to Array through 2016. Array expects to close the transactions during the third quarter of calendar 2006. Upon closing, the transactions are expected to add approximately $32 million in net additional cash to Array.

Array will keep its headquarters in Boulder and continue...

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Source: Lab Business Week (2006-07-23)

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