VBL Therapeutics has just announced that they've struck a deal to sell their advanced manufacturing facility in Modiin, Israel and related assets for a whopping $7.1 million in cash. What's more, they even have the option to sell additional equipment for more cash. The sale is expected to be finalized on March 9, 2023, pending some standard closing conditions.
In the words of VBL's CEO, Dror Harats, “We are thrilled to be able to strengthen our financial position through the monetization of our state-of-the-art facility. This is a key milestone in our strategic plan, and we are excited to continue unlocking value for our shareholders.” Keep your eyes peeled for more updates from VBL Therapeutics and the innovative work they're doing in the field of immune-inflammatory disease medicine!
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