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Altus Pharmaceuticals Inc., a once-promising drug developer now in the process of winding down its operations, is liquidating its laboratory equipment to chemical-derivative maker Boaopharma Inc. for $355,390 in cash.
Altus, based in Cambridge, said the sale price could drop to $305,390 if Boaopharma can remove “substantially all of the equipment” from its facility by Friday, Oct. 9.
The companies finalized the deal’s terms on Oct. 2.
On Sept. 15, Altus said it was shuttering its drug-discovery operations. At the time, the company (Nasdaq: ALTU) said it was suspending trials for its growth-hormone drug candidate and would terminate most of its workforce by November.
Boaopharma, based in Boston, develops chemical products, including natural amino acid derivatives and other biochemicals, according to its Web site. The company was founded in 2003.
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