Cancer-fighting biotech company rents big San Jose building snarled in fraud lawsuit

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A biotech company that says it seeks “a world without cancer” has leased a big San Jose building that was tangled in a lawsuit featuring allegations of real estate fraud and deception.

SAN JOSE — A biotech firm whose stated goal is to seek “a world without cancer” has leased a big San Jose building that was tangled in a lawsuit arising from allegations of real estate deception and fraud.

The ally, Atlas Capital Investments, whose principal member is Bui, paid $27.4 million for the building, the county property records show. Khloris and Atlas claimed in the litigation that TA Realty attempted to deceive Khloris regarding how much money would be required to buy the building, the court papers show.

But soon after that, the lawsuit claims, TA Realty notified Khloris Biosciences that a deal had been struck with another party to buy the building for $28.63 million, which was $1.23 million above the price that Khloris had proposed. “Defendants intended to induce plaintiffs to agree to pay an above-market purchase price” for the building, the court papers alleged. “Defendants concealed and suppressed the highly material fact that the actual purchase price was only $27.4 million.”

Khloris Biosciences had been based in a portion of a Mountain View biotech and life science complex, but the company’s website states Khloris is now located in the south San Jose building.

 

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