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Heritage Global Inc. Provides Auction Results From July Pharmaceutical Sector Sale

- Generated in Excess of One Million Dollars in Asset Sales -

SAN DIEGO--(BUSINESS WIRE)--Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and capital assets, today announced results from its ongoing monthly Pharmaceutical Sector Sale for July. With over 600 items for sale, the 100% online auction received 45,000 page views, more than 9,500 internet bids and generated in excess of one million dollars in asset sales. Furthermore, over 250 companies registered to bid on state of the art lab assets that were offered from multiple sellers located in Switzerland, Massachusetts, and five locations in California.

The successful auction results reinforce our trusted buyers and sellers continue to rely on Heritage Global to deliver high quality assets to the secondary market as well as working capital to our clients,” stated Nick Dove, Executive Vice President of Heritage Global Partners. “In the last four months, during the height of the COVID-19 pandemic, Heritage Global Partners has conducted 11 different biotech and pharmaceutical equipment auctions, including assets from more than 25 sellers ranging from startups to midsize companies and global multinational corporations. The demand for laboratory and manufacturing assets remains high reflecting ongoing ambitions to enhance R&D and production capabilities. We have five different biotech and pharma auctions scheduled in the next seven weeks and expect similar turnouts and strong competition across the board.”

Notable assets sold include:

  • Bruker SolariX XR Mass Spectrometer System
  • TruSteel Autovap30 Solvent Recovery System
  • BD FacsAria IIu Cell Sorters
  • Beckman Coulter i5 Spon8 Biomek i5 Automated Workstation.
  • Applied Bio QuantStudio PCR Systems

For additional information about the upcoming biotech and pharmaceutical auctions, please visit https://www.hgpauction.com/. For further questions on buying or selling assets at an upcoming event, please contact our sales team at ndove@hginc.com or 858-847-0659.

About Heritage Global Inc. (www.heritageglobalinc.com)

Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is an asset services company specializing in financial and capital assets. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.

Contacts

Scott West
Chief Financial Officer
Heritage Global Inc.
858/847-0656

Investor Relations
InvestorRelations@hginc.com
858/242-4741