Bankruptcies
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Valeritas Announces Agreement for Zealand Pharma to Acquire Business and Retain Employees
2/10/2020
Valeritas Holdings, Inc., a medical technology company and maker of the V-Go® Wearable Insulin Delivery device, announced an agreement to sell substantially all of the business to Zealand Pharma A/S, a Denmark-based biotechnology company.
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Novelion Therapeutics Confirms Commencement of Voluntary Liquidation
1/17/2020
Novelion Therapeutics Inc. announced that the implementation of the Company’s voluntary liquidation commenced at 5:00 p.m. Pacific Time, January 16, 2020.
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Neos Therapeutics Initiates and Completes Dosing in a Phase 1 Trial of NT0502 for the Treatment of Chronic Sialorrhea
1/13/2020
New chemical entity and selective muscarinic receptor antagonist targeting large unmet need for a new treatment that can meaningfully improve the lives of patients with neurological conditions
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Novelion Therapeutics Announces January 16, 2020 Effective Date for Commencement of Voluntary Liquidation
1/10/2020
Novelion Therapeutics Inc. announced the definitive date for commencement of implementation of the Company’s voluntary liquidation as 5:00 p.m. Pacific Time on January 16, 2020.
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The decision to file Chapter 11 followed a close examination of the company’s strategic options and current financing. -
NPXe Files Voluntary Chapter 11 to Implement 363 Asset Sale
12/30/2019
NPXe Limited announced that it has filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
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Melinta Therapeutics Announces Restructuring Support Agreement with its Secured Lenders under its Senior Credit Facility
12/27/2019
Company Initiates Voluntary Chapter 11 Process to Effectuate Restructuring Transaction While Continuing Normal-Course Operations
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Sienna Biopharmaceuticals Announces Court Approval of Chapter 11 Bidding Procedures Bids due on December 2, 2019 by 5:00 p.m. Eastern Time
11/14/2019
Sienna Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical company, today announced that, on November 13, 2019, the United States Bankruptcy Court for the District of Delaware entered an order approving Sienna’s proposed bidding procedures and Chapter 11 sale process timeline.
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Nuvectra® Continuing to Support Current Patients with the Algovita® Implant as Company Voluntarily Files for Chapter 11Court-Supervised Process Has No Impact on Safety or Functionality of Algovita Device; Company Continuing to Support Physicians
11/12/2019
Nuvectra Corporation, a neurostimulation medical device company, announced that it has elected to file a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Texas.
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HeartVista Receives FDA 510(k) Clearance for One Click™ Cardiac MRI Package, the First AI-assisted Cardiac MRI Scan Solution
10/29/2019
The future of imaging is here—and FDA cleared.
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Less than one month after filing for bankruptcy, beleaguered Bay Area microbiome company uBiome is now shutting its doors and selling off assets. -
uBiome Converts Chapter 11 Case to Chapter 7 Petition; Company to Cease Operations and Liquidate
10/2/2019
uBiome, Inc., announced that it has requested that the Bankruptcy Court presiding over its pending Chapter 11 bankruptcy convert its case to a liquidation under Chapter 7 of the U.S. Bankruptcy Code.
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The dermatological drug maker will use Chapter 11 protection to restructure the company, including a possible sale of assets, and will delay development of its Phase III-ready psoriasis treatment. -
Days after reaching a tentative agreement with a majority of states involved in litigation against the company over its role in the opioid crisis in the United States, Purdue Pharmaceuticals filed Chapter 11 bankruptcy. -
Sackler Family Issues Statement Regarding Purdue Pharma Bankruptcy
9/16/2019
“Like families across America, we have deep compassion for the victims of the opioid crisis and believe the settlement framework—now supported by the attorneys general of 29 states and territories and the plaintiffs' steering committee representing thousands of municipalities—is an historic step towards providing critical resources that address a tragic public health situation.
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Purdue Pharma Announces Agreement in Principle on Landmark Opioid Litigation Settlement
9/16/2019
Purdue Pharma L.P. announced that it has reached an agreement in principle on a framework for settling the U.S. opioid litigation facing the Company with 24 state attorneys general, analogous officials from 5 U.S. territories, the Plaintiffs’ Executive Committee in the multidistrict litigation, and co-lead counsel in the MDL.
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Purdue Pharma may file for bankruptcy this week after negotiations over a multi-billion opioid claims settlement have stalled, multiple sources are reporting.
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Late Wednesday, the company said it is looking to facilitate the sale of its business products in development, as well as its technology.
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Citing unnamed sources “familiar with the matter,” Reuters said that the company will have no choice but to file for bankruptcy should a settlement not be agreed upon.
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Court Confirms Reorganization Plan for Joerns Healthcare
7/26/2019
Debt Relief Positions Company for Future Growth and Profitability