deCODE genetics (Nasdaq:DCGN) today announced that it has
completed a sale and leaseback of its Woodridge, Illinois
medicinal chemistry facility. The company sold the facility
for $25 million and has entered into a lease with an initial
term of 17 years. After costs associated with the outstanding
mortgage on the facility, taxes and expenses, deCODE netted
$18.4 million, resources the company can now apply to its
drug and diagnostic development programs.
About deCODE
deCODE genetics
(Nasdaq:DCGN) is a global leader in applying human genetics
to develop drugs and diagnostics for common diseases. Our
population approach has enabled us to discover and target
key biological pathways involved in conditions ranging
from heart attack to cancer. We are turning these discoveries
into new medicine to better treat and prevent many of the
biggest challenges to public health. deCODE is delivering
on the promise of the new genetics.SM Visit us on the web
at www.decode.com, and on our diagnostics site at www.decodediagnostics.com.
Any statements contained in this presentation that relate
to future plans, events or performance are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are
subject to a number of risks and uncertainties that could
cause actual results to differ materially from those described
in the forward-looking statements. These risks and uncertainties
include, among others, those relating to technology and product
development, integration of acquired businesses, market acceptance,
government regulation and regulatory approval processes,
intellectual property rights and litigation, dependence on
collaborative relationships, ability to obtain financing,
competitive products, industry trends and other risks identified
in deCODE’s filings with the Securities and Exchange Commission.
deCODE undertakes no obligation to update or alter these
forward-looking statements as a result of new information,
future events or otherwise.
