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Techniclone to Sell, Then Lease Buildings

Dow Jones

Techniclone Corp. said it plans to sell two Tustin buildings housing its headquarters, research and development, clinical trials and manufacturing operations, then lease the properties.

The company, which develops treatments for cancer, said it will sell the buildings for more than the $3 million that it paid for them. The transaction will allow Techniclone to retire the first mortgage of about $1.9 million as well as a short-term note for $2.4 million, the company said.


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