Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
Anthropic IPO Marketing Expected to Start in Mid-October 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
BP Names Ian Tyler Permanent Chairman After Governance Shake-Up 
GSM Eyes US, Europe Expansion Ahead of 2028 Hong Kong IPO 
Adobe Names Anil Chakravarthy CEO as AI Push Accelerates 
MongoDB Stock Sinks 14% as Atlas Growth Misses Expectations 
Milei Threatens Falkland Oil Firms With Sanctions 
Microsoft to Reveal Azure Revenue in Major Reporting Shake-Up 
Qantas Near-Miss Raises Sydney Air Traffic Controller Fatigue Concerns 
Honda Targets $9.4 Billion in Cost Cuts as China EV Competition Intensifies 
Tesla Cybercab Rides Launch in Austin as NHTSA Reviews Rollout 
Thomson Reuters C-Track Cyberattack Hits Courts Across U.S. and Canada 
Xiaomi Shares Jump on Europe EV Expansion Plan 
Audi, SAIC Launch China Innovation Hub for New AUDI Models 
Add as a preferred source on Google
JERSEY, Channel Islands, Feb. 20, 2018 -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced it has entered into definitive agreements for the sale and leaseback of its recently completed Biocampus facility located near Edinburgh, Scotland.
Biocampus is a state-of-the-art facility designed to house Quotient’s rapidly growing liquid reagent manufacturing operations, research and development laboratories and related management offices. These activities are currently spread over three sites. The Biocampus facility was designed and built with the support of Scottish Enterprise.
Under the terms of the definitive sale and leaseback agreements, Quotient will receive gross proceeds from the sale totaling £14.95 million, or $20.9 million. After deducting the rental deposit required under the lease and selling costs, net proceeds available to the Company for working capital purposes will be approximately £10.9 million, or $15.3 million. In return, Quotient has entered into a 35-year lease over the Biocampus facility. Completion of the sale and commencement of the lease is expected on March 16, 2018.
“I am very pleased to announce the sale and leaseback of the Biocampus facility, which will free up capital to support the commercial launch of MosaiQ,” said Paul Cowan, Quotient’s Chairman and Chief Executive Officer. “The Biocampus facility confirms our commitment to the $3.4 billion global transfusion diagnostics market and will provide capacity and know how to supply many of the reagent requirements for MosaiQ as it establishes its market presence.”
About Quotient Limited
Quotient is a commercial-stage diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets. With an initial focus on blood grouping and serological and molecular disease screening, Quotient is developing its proprietary MosaiQ™ technology platform to address the $3.4 billion global transfusion diagnostics market. The Company's operations are based in Switzerland, Scotland and the US.
The Quotient logo and MosaiQ™ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.
CONTACT: Chris Lindop, Chief Financial Officer — [email protected]; + 41 799 61 69 38
