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BUSINESS
February 4, 1997
Biosys Inc., a Columbia-based producer of natural pesticides, announced yesterday that it has ceased operations now that the company's assets have been sold off in a bankruptcy sale.Biosys, which filed for Chapter 11 bankruptcy protection in September, said the $11 million that Thermo Trilogy Corp., another Columbia pesticide company, paid for its assets will be distributed to creditors.That liquidation plan was approved Jan. 7 by the United States Bankruptcy Court in Baltimore.One of the creditors is the Maryland Industrial Development Financing Authority, which gave Biosys $3 million through its loan guarantee fund.
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BUSINESS
February 4, 1997
Biosys Inc., a Columbia-based producer of natural pesticides, announced yesterday that it has ceased operations now that the company's assets have been sold off in a bankruptcy sale.Biosys, which filed for Chapter 11 bankruptcy protection in September, said the $11 million that Thermo Trilogy Corp., another Columbia pesticide company, paid for its assets will be distributed to creditors.That liquidation plan was approved Jan. 7 by the United States Bankruptcy Court in Baltimore.One of the creditors is the Maryland Industrial Development Financing Authority, which gave Biosys $3 million through its loan guarantee fund.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | September 20, 1995
Biosys Inc. of Columbia yesterday hooked up with a major British chemical and drug company to produce a new pesticide that kills caterpillars using biology rather than chemistry, setting the stage for the product to reach the market by next year.Biosys' deal with a unit of Zeneca Group PLC calls for Zeneca to take over much of the most expensive work of developing products based on the celery looper virus, which was first discovered by U.S. Department of Agriculture scientists and later licensed to Biosys.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 4, 1997
Biosys Inc., the Columbia bio-pesticides company, said yesterday that it will seek U.S. Bankruptcy Court approval Tuesday for its plan to sell most of its assets to Thermo Trilogy Corp., another Columbia bio-pesticides firm.Biosys, which filed for Chapter 11 bankruptcy protection in September, said in a statement that it estimates the value of the Thermo Trilogy deal at $15 million to $21 million.In its bankruptcy filing, which resulted from a severe cash shortage, Biosys listed assets of $24.1 million as of June 30, 1996.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | August 15, 1995
Even as it cut its loss by 24.9 percent with a jump in the sales of its biological pesticides, Biosys Inc. continued to bleed red ink during the second quarter, making its financial condition shakier."
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | May 2, 1995
Cash-strapped biosys inc., which acquired Columbia-based Crop Genetics Inc. in March, announced yesterday that it had signed an agreement to merge with another biological pesticide maker, Salt Lake City-based AgriDyne Technologies Inc.The merger is subject to approval by shareholders of both companies and clearance by the Securities and Exchange Commission.The proposed merger won't affect biosys' plan to move its headquarters from Palo Alto, Calif. to Crop Genetics' Columbia facility in September, said Bruce G. Fielding Jr., senior vice president and CFO of biosys.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 15, 1996
Biosys Inc., a Columbia-based company that develops and markets biological products for insect control on crops, reported a second-quarter loss yesterday of $3.6 million on sales of $6.3 million.The results for the quarter, which ended June 30, were 5.4 percent better than for the same period last year, when Biosys reported a net loss of $3.7 million on sales of $8.4 million.The publicly held company said quarter-to-quarter comparisons were distorted by the fact that a sales contract in Egypt resulted in most of the 1996 revenues occurring in the first quarter, while most of 1995 revenues from the contract occurred in the second quarter.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 4, 1997
Biosys Inc., the Columbia bio-pesticides company, said yesterday that it will seek U.S. Bankruptcy Court approval Tuesday for its plan to sell most of its assets to Thermo Trilogy Corp., another Columbia bio-pesticides firm.Biosys, which filed for Chapter 11 bankruptcy protection in September, said in a statement that it estimates the value of the Thermo Trilogy deal at $15 million to $21 million.In its bankruptcy filing, which resulted from a severe cash shortage, Biosys listed assets of $24.1 million as of June 30, 1996.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | March 9, 1996
Columbia-based Biosys, a biotechnology company developing insect control products for agriculture, said yesterday it will hold a stockholders meeting Friday to vote on a proposed merger with AgriDyne Technologies Inc, of Salt Lake City, Utah.The meeting will be at 10 a.m. at the the corporate headquarters, 10150 Old Columbia Road.L If approved, the merged companies would be known as Biosys.Shareholders also will be asked to vote on a proposed reverse stock split of the outstanding shares of biosys common stock.
BUSINESS
By Mark Guidera and Jay Hancock and Mark Guidera and Jay Hancock,SUN STAFF | October 1, 1996
Biosys Inc., a Columbia-based company that makes natural pesticides and has benefited from millions in state loan guarantees, has sought Chapter 11 bankruptcy protection as a result of unexpected, mounting losses in its second quarter.Edwin C. Quattlebaum, the publicly held company's president and chief executive officer, said poor second-quarter financial results and the recent collapse of the company's stock price had magnified Biosys' cash-flow problems to the point the company had to seek protection from its creditors late Friday.
BUSINESS
By Mark Guidera and Jay Hancock and Mark Guidera and Jay Hancock,SUN STAFF | October 1, 1996
Biosys Inc., a Columbia-based company that makes natural pesticides and has benefited from millions in state loan guarantees, has sought Chapter 11 bankruptcy protection as a result of unexpected, mounting losses in its second quarter.Edwin C. Quattlebaum, the publicly held company's president and chief executive officer, said poor second-quarter financial results and the recent collapse of the company's stock price had magnified Biosys' cash-flow problems to the point the company had to seek protection from its creditors late Friday.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 15, 1996
Biosys Inc., a Columbia-based company that develops and markets biological products for insect control on crops, reported a second-quarter loss yesterday of $3.6 million on sales of $6.3 million.The results for the quarter, which ended June 30, were 5.4 percent better than for the same period last year, when Biosys reported a net loss of $3.7 million on sales of $8.4 million.The publicly held company said quarter-to-quarter comparisons were distorted by the fact that a sales contract in Egypt resulted in most of the 1996 revenues occurring in the first quarter, while most of 1995 revenues from the contract occurred in the second quarter.
NEWS
April 12, 1996
An article in yesterday's Business section about a new biotechnology company moving to Maryland misidentified another company, Biosys Inc. Biosys develops and manufactures bio-insecticides.The Sun regrets the errors.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | March 9, 1996
Columbia-based Biosys, a biotechnology company developing insect control products for agriculture, said yesterday it will hold a stockholders meeting Friday to vote on a proposed merger with AgriDyne Technologies Inc, of Salt Lake City, Utah.The meeting will be at 10 a.m. at the the corporate headquarters, 10150 Old Columbia Road.L If approved, the merged companies would be known as Biosys.Shareholders also will be asked to vote on a proposed reverse stock split of the outstanding shares of biosys common stock.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | September 20, 1995
Biosys Inc. of Columbia yesterday hooked up with a major British chemical and drug company to produce a new pesticide that kills caterpillars using biology rather than chemistry, setting the stage for the product to reach the market by next year.Biosys' deal with a unit of Zeneca Group PLC calls for Zeneca to take over much of the most expensive work of developing products based on the celery looper virus, which was first discovered by U.S. Department of Agriculture scientists and later licensed to Biosys.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | August 15, 1995
Even as it cut its loss by 24.9 percent with a jump in the sales of its biological pesticides, Biosys Inc. continued to bleed red ink during the second quarter, making its financial condition shakier."
NEWS
April 12, 1996
An article in yesterday's Business section about a new biotechnology company moving to Maryland misidentified another company, Biosys Inc. Biosys develops and manufactures bio-insecticides.The Sun regrets the errors.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 16, 1995
The California biotechnology company slated to buy Crop Genetics International of Hanover next month is dangerously low on cash, and its accountants have questioned its ability to continue as a going concern if the company's operating profits and balance sheet don't improve soon.Biosys inc. made the disclosure in a registration statement filed with the U.S. Securities and Exchange Commission. The company said it had $2.3 million in cash and short-term investments as of Dec. 31, down from $14.7 million a year earlier.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | May 2, 1995
Cash-strapped biosys inc., which acquired Columbia-based Crop Genetics Inc. in March, announced yesterday that it had signed an agreement to merge with another biological pesticide maker, Salt Lake City-based AgriDyne Technologies Inc.The merger is subject to approval by shareholders of both companies and clearance by the Securities and Exchange Commission.The proposed merger won't affect biosys' plan to move its headquarters from Palo Alto, Calif. to Crop Genetics' Columbia facility in September, said Bruce G. Fielding Jr., senior vice president and CFO of biosys.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 16, 1995
The California biotechnology company slated to buy Crop Genetics International of Hanover next month is dangerously low on cash, and its accountants have questioned its ability to continue as a going concern if the company's operating profits and balance sheet don't improve soon.Biosys inc. made the disclosure in a registration statement filed with the U.S. Securities and Exchange Commission. The company said it had $2.3 million in cash and short-term investments as of Dec. 31, down from $14.7 million a year earlier.
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