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:10/13/2017)... Pa. (PRWEB) , ... October 13, 2017 , ... While ... dark poses a problem. Fortunately, an inventor from Austin, Texas, has identified a solution. ... to medication in darkness or restricted lighting. As such, it eliminates the need to ...
(Date:10/13/2017)... ... October 13, 2017 , ... The International Association ... standards of excellence for the field of eating disorders, announces the opening of ... 2018 in Orlando, Florida at the Omni Resort at ChampionsGate. , ...
(Date:10/13/2017)... (PRWEB) , ... October 13, ... ... School of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, ... professionals on guideline updates for the primary prevention of cardiovascular diseases during ...
(Date:10/13/2017)... CT (PRWEB) , ... October 13, 2017 , ... ... long-term care services, staged a mock evacuation of the facility as part of a ... Shelton Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as ...
(Date:10/13/2017)... ... October 13, 2017 , ... The Visiting Nurse Association (VNA) of Somerset Hills ... specialty vendors and unique items from across the nation, this holiday-themed event will raise ... offered by the VNA. The boutique will be open Saturday, November 4 (10:00 ...
Breaking Medicine News(10 mins):
(Date:9/27/2017)... NEW YORK , Sept. 27, 2017  DarioHealth Corp. ... big data solutions, today announced that its MyDario product is expected to ... TV listings for when The Dr. Oz Show airs in your area: ... The nine-time Emmy award-winning, ... ...
(Date:9/22/2017)... Sept. 22, 2017 AVACEN Medical (AVACEN) announced ... now successfully helping those with the widespread pain associated ... diagnosed Amanda in Essex, England ... my hair, experiencing no sleep at all, tremendous pain, ... I cannot recommend [the AVACEN 100] enough, how this ...
(Date:9/13/2017)... --  OrthoAtlanta has been named the official orthopedic and ... for the 2018 College Football Playoff (CFP) National Championship to ... in Atlanta, Georgia . OrthoAtlanta is proud ... participating in many activities leading up to, and including the ... ...
Breaking Medicine Technology: