Zalicus Inc. (ZLCS) Announces Closing Of CHTS Service Business Sale To Horizon Discovery Group
6/2/2014 10:32:34 AM
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Zalicus Inc. (Nasdaq Capital Market: ZLCS), a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain, today announced that it has closed the sale of its combination High Throughput Screening (cHTS) platform and related assets to Horizon Discovery Group for $8 million plus certain additional amounts relating to the working capital of these assets. As a result of the cHTS sales proceeds, the amount of Zalicus’ net cash expected at the closing of the merger with Epirus Biopharmaceutical will be in excess of $9 million.
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