Friday, December 18, 2015

Atossa Genetics Sells Subsidiary

Seattle-based pharmaceuticals developer Atossa Genetics said Thursday that it has sold a subsidiary of the company to NRL Investment Group, LLC. ATossa said it sold 100 percent of its common shares in the National Reference Laboratory for Breast Health, Inc. (NBLBH), while retaining 19 percent of preferred stock, to NRL. The deal was worth $50,000, plus up to $10M in earnouts based on payouts of 6 perecent of the gross revenue of NRLBH. Atossa said the sale will allow it to more fully focus on the development of its pharmaceuticals. Atossa is focused on treating early stage breast cancer.