GlycoGenesys owes lease payment of $50,590

By Lisa Kerner

Erie, Pa., Jan. 27 - GlycoGenesys, Inc. said it was notified it has five days from Jan. 23 to pay $50,590 to Capital Properties Management, Inc. or it would be in violation of an April 1999 lease agreement.

The company leases property on St. James Avenue in Boston, according to official documents.

GlycoGenesys said it has not received notice of any lease termination and is working to resolve the problem with Capital Properties.

Boston-based GlycoGenesys engages in the research and development of carbohydrate-based products and related technologies in the area of oncology.

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