Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Harris & Harris Group Notes Receipt of Funds Held in Escrow From Sale of BioVex

Abstract:
Harris & Harris Group, Inc. (Nasdaq:TINY) notes that it has received payment of its portion of the proceeds from Amgen, Inc.'s acquisition of BioVex Group, Inc., held in escrow since the close of the transaction on March 4, 2011, of approximately $953,000. This payment brings the total gross proceeds received from this sale to approximately $8.7 million. Prior to the sale, the cost basis of our investment in BioVex was approximately $4 million. As of December 31, 2011, the funds held in escrow were valued at $476,593.

Harris & Harris Group Notes Receipt of Funds Held in Escrow From Sale of BioVex

New York, NY | Posted on March 19th, 2012

Under the terms of the sale, former shareholders of BioVex are also entitled to payments from Amgen upon achievement of certain regulatory and sales milestones. As of December 31, 2011, we valued our rights to future potential milestone payments at $3,362,791. If all the remaining milestone payments were to be paid by Amgen, we would receive $9,526,393. As of December 31, 2011, we had not received any milestone payments, and there can be no assurances as to how much of this amount we will ultimately realize in the future, or when, if at all.

####

About Harris & Harris Group, Inc.
Harris & Harris Group is an early-stage, active investor in transformative nanotechnology companies. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.HHVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

For more information, please click here

Contacts:
Harris & Harris Group, Inc.
1450 Broadway, 24th Floor
New
York, NY 10018
Contact: Douglas W. Jamison

Copyright © Harris & Harris Group, Inc.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Radiation-guided nanoparticles zero in on metastatic cancer July 1st, 2016

Synthesized microporous 3-D graphene-like carbons: IBS research team create carbon synthesis using zeolites as a template July 1st, 2016

No need in supercomputers: Russian scientists suggest a PC to solve complex problems tens of times faster than with massive supercomputers June 30th, 2016

Surprising qualities of insulator ring surfaces: Surface phenomena in ring-shaped topological insulators are just as controllable as those in spheres made of the same material June 30th, 2016

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

NanoLabNL boosts quality of research facilities as Dutch Toekomstfonds invests firmly June 10th, 2016

Oxford Nanoimaging to provide desktop super-resolution microscopes May 10th, 2016

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Philadelphia Mathematician Robert Clark Turns to Crowdfunding to Support Nanotechnology Research That Could Lead to ‘Flying’ Cars and Space Elevator April 4th, 2016

Investments/IPO's/Splits

Nanometrics to Participate in the 8th Annual CEO Investor Summit: Investor Event Held Concurrently with SEMICON West 2016 in San Francisco June 22nd, 2016

Artificial synapse rivals biological ones in energy consumption June 21st, 2016

NanoLabNL boosts quality of research facilities as Dutch Toekomstfonds invests firmly June 10th, 2016

Nanometrics Announces Upcoming Investor Events May 10th, 2016

Nanomedicine

Radiation-guided nanoparticles zero in on metastatic cancer July 1st, 2016

A drop of water as a model for the interplay of adhesion and stiction June 30th, 2016

How cancer cells spread and squeeze through tiny blood vessels (video) June 30th, 2016

Building a smart cardiac patch: 'Bionic' cardiac patch could one day monitor and respond to cardiac problems June 28th, 2016

Announcements

Radiation-guided nanoparticles zero in on metastatic cancer July 1st, 2016

Synthesized microporous 3-D graphene-like carbons: IBS research team create carbon synthesis using zeolites as a template July 1st, 2016

No need in supercomputers: Russian scientists suggest a PC to solve complex problems tens of times faster than with massive supercomputers June 30th, 2016

Surprising qualities of insulator ring surfaces: Surface phenomena in ring-shaped topological insulators are just as controllable as those in spheres made of the same material June 30th, 2016

Financial Reports

Nanometrics to Announce First Quarter Financial Results on April 26, 2016 April 5th, 2016

Nanometrics Achieves Record 3D-NAND Bookings Quarter: A Record 3D-NAND Bookings Quarter, both in Aggregate and for Each of Three Key Customers March 28th, 2016

Arrowhead to Webcast Fiscal 2015 Year End Results December 7th, 2015

Haydale Announce Year End Results November 3rd, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic