Navigation Links
Biopure Files Voluntary Petition for Relief Under Chapter 11 of the United States Bankruptcy Code
Date:7/16/2009

CAMBRIDGE, Mass., July 16 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Massachusetts. Biopure will continue to manage and operate its businesses and assets during the pendency of the bankruptcy case, subject to the supervision of the Bankruptcy Court.

In connection with the filing Biopure entered into an agreement with OPK Biotech LLC for the sale of substantially all of its assets. The sale is subject to customary closing conditions, approval of the Bankruptcy Court and the conduct of a Bankruptcy Court supervised auction process in which Biopure will seek competing bids to achieve the highest price possible for its assets.

If the proposed OPK Biotech LLC transaction closes, Biopure expects that there will be limited, if any, value for the common stockholders in the bankruptcy liquidation process. Stockholders of a company in Chapter 11 generally receive value only if all claims of the company's secured and unsecured creditors are fully satisfied. Biopure expects such claims will be largely satisfied if the proposed OPK Biotech LLC transaction closes on the contemplated schedule.

Biopure Corporation

Biopure Corporation develops and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body's tissues.

    Contact:  Zaf Zafirelis
    Biopure Corporation
    (617) 234-6500
    IR@biopure.com


'/>"/>
SOURCE Biopure Corporation
Copyright©2009 PR Newswire.
All rights reserved

Page: 1

Related medicine news :

1. Biopure Receives Notice of Nasdaq Delisting
2. Biopure Receives Notices About Nasdaq Listing Compliance
3. Biopure Exploring Strategic Options
4. Biopure Receives Extension of Time to Regain NASDAQ Listing Compliance
5. Biopure Submits IND Application for Proposed Clinical Trial in Patients with Acute Myeloid Leukemia
6. Biopure Sues National Institutes of Health Official
7. Agency Takes Adverse Decision to Biopures Product Registration in South Africa
8. Biopure Receives Extension of Time to Regain NASDAQ Listing Compliance
9. Biopure Reaffirms Strategy Following Recent NIH/FDA Workshop
10. Biopure Receives Comment Letter From U.K. Regulatory Body on Marketing Application for Hemopure(R)
11. Biopure Announces 2007 Fourth Quarter and Year-End Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... On Memorial Day, Hope For ... their lives in military battle for the country. The nonprofit Hope For Heroes ... more programs that empower independence for disabled military veterans, as well as police, firemen, ...
(Date:5/26/2016)... ... , ... MadgeTech will be showcasing its line of data logging products ... the MadgeTech headquarters. With products sold in more than 100 countries around the world, ... , In 2012, NASA strategically set up 17 RHTemp101A MadgeTech data loggers ...
(Date:5/26/2016)... ... 2016 , ... In an effort to provide hair restoration information to the widest possible audience, ... who do not use the app. Dr. Mohebi, the founder of Parsa Mohebi Hair Restoration, ... . , Dr. Mohebi says, “The positive response to the Snapchat videos we started ...
(Date:5/26/2016)... Fla. (PRWEB) , ... May 26, 2016 , ... The ... (AHEC) to host a six-week smoking cessation class starting June 6 at their clinic ... website, http://www.gnahec.org . , Additionally, the Lung Institute has created a free downloadable ...
(Date:5/26/2016)... ... May 26, 2016 , ... The MIAMI Institute for Age Management and Intervention ... Maiquez MD, ABAARM. Dr. Adonis , Wellness Physician of the MIAMI Institute is ... the Institute for Functional Medicine. , He also heads up FITTLab, the comprehensive medical ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... May 25, 2016  Granger Diagnostics today announced immediate ... wounds and infections. This test ensures discovery of ... viruses. The test requires only a simple swab of ... David G. Bostwick , MD, Chief Medical ... wound healing: "We are excited to make available, ...
(Date:5/24/2016)... , May 24, 2016 ... den Markt gebracht, die es Ärzten erlaubt, ihre ... zu behandeln: MDLinking kombiniert Live Streaming mit einer ... Umfeld zu kommunizieren. Mediziner in Europa, Afrika, Asien ... sich bereits für die Plattform registriert. ...
(Date:5/24/2016)... New Zealand , May 24, 2016 ... and informatics solutions for the healthcare sector, has been named ... New Zealand Hi-Tech Awards 2016. Dr Bruce ... fantastic acknowledgement for our team.  It,s really good to be ... burden healthcare internationally. Our products are used in 35 countries ...
Breaking Medicine Technology: