ALACHUA, Fla.--(BUSINESS WIRE)--Nanotherapeutics, an integrated biopharmaceutical company with a focus on advanced development and manufacturing, today announced the closing of a sale-leaseback transaction with Senior Housing Properties Trust, or SNH, for the company’s new Advanced Development and Manufacturing Facility in Alachua, FL. The transaction, under which Nanotherapeutics sold the property for $45 million and entered into a 15-year lease, provides the company with long term financing for the 183,000 square foot, state-of-the-art, multi-purpose-multi-product, Biosafety Level-3 capable facility.
Nanotherapeutics purchased the land for the 30-acre facility and broke ground in 2013, after being selected by the Department of Defense (DOD) as prime contractor for DOD’s advanced development and manufacturing of medical countermeasure (MCM) products to treat military populations. The company will use the facility and its capabilities to both meet the DOD requirements for MCM production, as well contract development and manufacturing for a variety of biopharmaceutical products.
About Nanotherapeutics, Inc.
Nanotherapeutics is an integrated biopharmaceutical company with a focus on development and manufacturing. The Company has expertise in preclinical and clinical development, formulation optimization, and cGMP manufacturing of biopharmaceutical products and medical devices. The Company's proprietary platform technologies can be used with all drug types, ranging from small molecules, to proteins and vaccines. For more information, visit the Company website at www.nanotherapeutics.com.
About Senior Housing Properties Trust
Senior Housing Properties Trust is a real estate investment trust, or REIT, which owns senior living communities, medical office buildings, including lab space and wellness centers throughout the United States. SNH is managed by the operating subsidiary of The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA.