Hybridon Completes Final Step in Restructuring Plan

Hybridon, Inc. recently announced the signing of a lease termination agreement for its former corporate facility owned by Charles River Building Limited Partnership (CRBLP). Pfizer Inc has signed a lease for the facility. Hybridon expects that the previously announced sale of its limited partnership interest in CRBLP will close later this month.

Hybridon expects a one-time receipt of $6.5 million, including release of restricted cash, in connection with these transactions. In addition, finalization of its facility consolidation will save Hybridon $3.6 million annually.

The sale of Hybridon's limited partnership interest will be the final step in the company's formerly announced restructuring plan.

Hybridon is engaged in the discovery and development of novel genetic medicines based primarily on antisense technology for the treatment of diseases for which there are currently limited or no effective treatments.

For more information: Maggie Flanagan, Hybridon, Inc. Tel: 508-482-7513.