Emergent BioSolutions Receives Loan Repayment from Protein Sciences Corporation
ROCKVILLE, Md., Nov 03, 2010 (BUSINESS WIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has received repayment of the loan it extended to Protein Sciences Corporation in 2008. The total payment of $11.5 million includes full repayment of the original $10 million in principal plus $1.5 million in accrued interest. In addition, the parties signed a mutual settlement and release agreement that dismisses all litigation between both parties.
About Emergent BioSolutions Inc.
Emergent BioSolutions Inc. is a global biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and antibody therapies that assist the body's immune system to prevent or treat disease. Emergent's marketed and investigational products target infectious diseases, oncology, and autoimmune disorders. Additional information about the company may be found at http://www.emergentbiosolutions.com.
SOURCE: Emergent BioSolutions Inc.
Emergent BioSolutions Inc.
Robert G. Burrows, 301-795-1877
Vice President, Investor Relations
Tracey Schmitt, 301-795-1800
Vice President, Corporate Communications