Large Scale Biology enters $6.4 million agreement to sell Kentucky biomanufacturing plant

By Caroline Salls

Pittsburgh, March 3 - Large Scale Biology Corp. and subsidiary Large Scale Bioprocessing, Inc. entered into a $6.4 million asset purchase agreement with stalking horse bidder Kentucky BioProcessing LLC to sell the company's Owensboro, Ky., biomanufacturing facility and related plant-made proteins contract manufacturing business, according to an 8-K filing with the Securities and Exchange Commission.

An auction is scheduled for March 27.

The assets include substantially all of the assets used in Large Scale's plant-made protein contract manufacturing business line, including real property, a greenhouse complex and land useful for the extraction, processing and production of plant-made proteins and fixtures, machinery and equipment located on the property.

The parties will also enter into license agreements providing the buyer with access to biomanufacturing and other intellectual property rights related to the business.

Large Scale Biology also agreed not to compete with Kentucky BioProcessing in the contract manufacturing of plant-made proteins for seven years following the sale's closing.

Large Scale Biology is a Vacaville, Calif., company developing therapeutic and industrial proteins, vaccines and diagnostic products for effective characterization and treatment of disease.

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