PRACS complex sold to pharmaceutical companyFargo, ND (WDAY TV) - There is a new owner for some of the PRACS buildings in southwest Fargo.
By: WDAY Staff Reports, WDAY
Fargo, ND (WDAY TV) - There is a new owner for some of the PRACS buildings in southwest Fargo.
PRACS closed abruptly last March, leaving hundreds without work and dozens of study participants without payment. A bankruptcy trustee in Texas told us this afternoon that Novum Pharmaceutical on the east coast was the winning bidder at the auction, with a bid of $12.5 million. The sale involved part of the PRACS complex.
Fargo based Aldevron, a medical research company, was also bidding on the buildings. Closing on the sale of the real estate and personal property should close in just days.