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:2/8/2016)... ... February 08, 2016 , ... GrassrootsHealth ... incidence rate of type 2 diabetes in the GrassrootsHealth cohort with substantially higher ... make a change in public health,” states Carole Baggerly, Director of GrassrootsHealth, “the ...
(Date:2/8/2016)... Las Vegas, Nevada (PRWEB) , ... February 08, ... ... Co-Founder at RowdMap, Inc., will be speaking on how healthcare companies can use ... project costs, manage the health of a population and intervene and capture the ...
(Date:2/8/2016)... ... February 08, 2016 , ... According to research by ... require dental technicians to be certified or obtain continuing education. To increase patient ... “What’s In Your Mouth?” campaign to inform dentists and patients about the possible ...
(Date:2/7/2016)... ... February 07, 2016 , ... ... MyDecision™ empowers employers and organizations with the tools and information to lower the ... elements to cut the cost of providing employee healthcare benefits by as much ...
(Date:2/6/2016)... ... ... US Sports Camps is proud to sponsor the Bay Area Disc Association's ... leaders, ultimate organizations, and coaches from around the US. The theme for this year’s ... of Youth and Education, describes this year YUCC as “an important conversation we must ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... DURHAM, N.C. , Feb. 8, 2016  Avista ... appointed Eric Setzer as Chief Financial Officer (CFO). ... over twenty years of experience in various roles within ... Avista Pharma, he served as the Executive Director of ... organization in Raleigh, NC . Previously, ...
(Date:2/8/2016)...  HemaFlo Therapeutics, Inc. announced today that the United States ... 9,119,880 covering the use of NephroFlow to treat acute kidney ... founder, said, "We are pleased to secure our rights to ... , PhD, HemaFlo,s founder, said, "We are pleased to secure ... Dale Peterson , PhD, HemaFlo,s founder, said, "We ...
(Date:2/8/2016)... 2016 Palatin Technologies, Inc. (NYSE MKT: ... therapeutics for the treatment of diseases with significant ... that the United States Patent and Trademark Office ... U.S. Patent Application Serial Number 14/313,258 (the ,258 ... treating female sexual dysfunction using the formulation and ...
Breaking Medicine Technology: