ProKidney Announces Purchase Of Manufacturing Facility In Greensboro, NC; Prokidney Will Pay ~$25.5M In Cash For The Facility And Property
Portfolio Pulse from Benzinga Newsdesk
ProKidney Corp. (NASDAQ:PROK) has agreed to purchase a 210,000 sq ft facility and 22 acres of land in Greensboro, NC for $25.5 million to support future commercial manufacturing needs for its REACT® therapy. The company plans to invest in the facility through 2028 and is eligible for up to $13.3 million in tax credits based on certain milestones.
June 13, 2023 | 4:07 pm
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ProKidney's purchase of a manufacturing facility in Greensboro, NC for $25.5M will support future commercial manufacturing needs for its REACT® therapy, with potential tax credits of up to $13.3M.
The acquisition of the manufacturing facility will support ProKidney's future commercial manufacturing needs for its REACT® therapy, which is currently in Phase 3 development. This investment is an important component of the company's strategic manufacturing buildout and will help it prepare for potential commercial-scale manufacturing. The tax credits will provide additional financial support, making this a positive development for the company and its investors.
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