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Genomics One to Sell $538K Worth of Assets to Medicorp

NEW YORK, May 27 (GenomeWeb News) - Laval, Quebec-based Genomics One will sell about CA$677,330 ($538,204) worth of assets from its BioCan Scientific subsidiaries in Canadaand the USto Montreal-based Medicorp.

 

The closing of the sale is planned for March 31, at which time Medicorp will pay CA$500,000, leaving a balance of CA$177,300, which will be held in escrow for 90 days.

 

According to Genomics One, the pending sale will help the company to focus on entering into the biodefense market using mass spectrometry technology.

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