20th Aug 2015 08:04
LONDON (Alliance News) - Technology-based pharmaceutical company Verseon Corp on Thursday said it has acquired a research and development facility in California via its VRH1 LLC subsidiary for USD8.7 million.
The property, located in Fremont, includes 85,000 square foot of usable space, the company said. It will allow it to expand its computing and laboratory infrastructure and staff and will how a drug discovery facility, along with development operations and corporate offices. Verseon floated on AIM back in May, raising GBP65.8 million.
"Verseon's current drug programmes continue to make steady progress along their development paths. The new facility is integral to the company's growth plans, as it supports the infrastructure necessary to expand our pipeline and accelerate the progress of our existing drug programmes," said Chief Executive Adityo Prakash.
Verseon shares were untraded Thursday morning, having last traded at 223.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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