Neurochem sells Laval headquarters for C$32 million

By Angela McDaniels

Seattle, Nov. 8 - Neurochem Inc. said it has raised C$32 million from a sale-and-leaseback transaction with an affiliate of Alexandria Real Estate Equities Inc.

The transaction involves the Neurochem campus located in Laval, Quebec, including its head office and research facility.

Closing is scheduled for the latter half of November, the company said.

"This sale and leaseback transaction strengthens our balance sheet and our cash position in a non-dilutive fashion as our product development programs continue to advance and near potential market entry," said Francesco Bellini, Neurochem chairman, president and chief executive officer, in a company press release.

Neurochem is a pharmaceutical company focused on the development of therapeutics for neurological disorders.

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