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:6/28/2017)... ... June 28, 2017 , ... ... services, is proud to announce the guest speaker lineup* for its second annual ... Alliance of Healthcare Purchaser Coalitions; Dr. Keith Fernandez of Privia Health; and Lisa ...
(Date:6/28/2017)... Park, IL (PRWEB) , ... June 28, 2017 , ... David B. Sosin, ... Orland Park, Illinois, took over the post of 2nd Vice President for the Illinois ... Sosin was installed as the ISBA’s 3rd Vice President in 2016 following a state-wide election ...
(Date:6/28/2017)... ... , ... Park Systems , a leader in Atomic Force Microscopy (AFM) ... and Park customers on July 11, 2017 from 12-2pm at the Thirsty Bear Brewing ... of Park Systems, and Prof. Krishna Saraswat , Rickey/Nielsen Professor in the School ...
(Date:6/28/2017)... , ... June 28, 2017 , ... ... County and the surrounding regions access to insurance assistance and financial planning services, ... 25: Ministries to assist families in the region facing financial crisis. , Matthew ...
(Date:6/27/2017)... Fla. (PRWEB) , ... June 27, 2017 , ... ... today announced the appointment of Mike Finnegan to the position of Executive Vice ... years of experience in healthcare technology, telehealth and medical device sales leadership. He ...
Breaking Medicine News(10 mins):
(Date:6/7/2017)... June 6, 2017  Diplomat Specialty Infusion Group, a brand of ... to its Iowa location. The ... now features an ISO 7 cleanroom—the standard needed to compound ... a low level of pollutants. ... consumers and better serve our Iowa patients," ...
(Date:6/1/2017)... June 1, 2017 Nutriceutical Holdings (NH), parent ... Solutions (VRS), and KD Pharma Group have decided to ... by KD Pharma Group. KD Pharma Group will become ... to acquire the entire company. "We believe ... are committed to growing the NH companies by providing ...
(Date:5/26/2017)...  Endo International plc (NASDAQ: ENDP ) announced ... represent the Company in a fireside chat at Goldman Sachs, ... 13, 2017 at 10:40 a.m. PT / 1:40 p.m. ET. ... Rancho Palos Verdes, CA. A ... available on the Company,s website at http://www.endo.com/investors/overview . Participants ...
Breaking Medicine Technology: