REYKJAVIK, Iceland, June 12 /PRNewswire-FirstCall/ -- deCODE genetics 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 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 http://www.decode.com, and on our diagnostics site at http://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.
Contact: deCODE genetics Edward Farmer Joy Bessenger +1 212 343 2819 +1 212 481 3891 info@decode.isir@decode.is
deCODE genetics
CONTACT: Joy Bessenger, +1-212-481-3891, ir@decode.is, or Edward Farmer,+1-212-343-2819, info@decode.is, both of deCODE genetics
