180 Degree Capital closes on life science portfolio company acquisition.

Byline: Linda Lindner

Investment management company 180 Degree Capital Corp. said Tuesday it closed the sale of one of its privately-held life science portfolio companies for $4.4 million in cash.

Additionally, 180 received $305,000 in cash from its ownership in an entity affiliated with the acquired life science portfolio company. The Montclair-based company is also eligible to receive up to approximately $87 million in potential future payments.

"We are pleased that this sale is closed, and we are now focused on deploying this cash in our public market investment strategy," said...