Guilford deal

GLFD (Baltimore) received a $2.5 million commitment from The Abell Foundation (Baltimore) to fund research at GLFD to develop drugs for cocaine addiction.

GLFD will provide all R&D and administrative services for a jointly owned company that will be financed by the funds. Either the foundation or GLFD can cause the jointly owned company to be acquired by GLFD in exchange for 500,000 shares of GLFD common stock. ...