Friday, August 11, 2006

Array BioPharma Gets Another $14M From Real Estate

Boulder, Colorado-based biotech firm Array BioPharma has received another $14M from real estate transactions, after selling off its Longmont facilities to a real estate investment trust. Array said that the funding came from assigning its right to purchase its Longmont facility to BioMed Realty Trust. BioMed also had purchased the firm's Boulder facility. Array said that it will continue to operate out of both sites, and has entered into a lease for the facilities.