Biotage finalizes transfer of its manufacturing business from Charlottesville, Virginia

Biotage (STO:BIOTA) announced on 22 January 2009 that the company had decided to move the manufacturing of its products from its factory in Charlottesville, Virginia, to contract manufacturers and Biotage’s manufacturing plant in Cardiff, Wales. The transfer of this business has now successfully been finalized. In parallel with these activities the company has marketed the building in Charlottesville for sale. These efforts have paid off despite the challenging climate on the US real estate market. Sales price of the facility is USD 5,5 million, which results in a smaller loss of approximately USD 0,1 million. Net after transaction costs Biotage’s cash holdings increases with approximately USD 1,3 million.