BioTechnica International Inc. announced Tuesday the sale ofits former corporate headquarters and research facility inCambridge, Mass., to Genetics Institute Inc.
BioTechnica moved its headquarters to Overland Park, Kan., inJanuary.
Financial terms of the sale were not disclosed, but the companydid repay in full the $2.8 million mortgage on that facility.
Stephen Hall, Biotechnica's vice president and chief financialofficer, said the sale of the facility completes the final step inthe company's business reorganization. The company(NASDAQ:BIOT) will now license or purchase technology fromother research companies instead of developing it itself, Hallsaid. The company also intends to increase the distribution ofits seed products.
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