Failed biotech’s workers to receive $3,000 each

Greenwood has agreed to give money to the former employees of a pharmaceutical company to settle a lawsuit against the failed biotech startup.

The city was Elona Biotechnologies’ largest creditor and has so far lost nearly $10 million on its investment.

Five Elona employees requested a total of $127,496 out of proceeds from auctioning the company’s assets last year, but they are accepting $3,000 each.

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