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Cellceutix buys assets of bankrupt PolyMedix for $4.8mm in cash and debt
27 Aug 2020
Executive Summary
Publicly traded Cellceutix Corp. (cancer, psoriasis, and autism treatments) emerged as the successful bidder for virtually all of the assets of PolyMedix Inc., a formerly public biotech firm that filed for Chapter 7 bankruptcy in April 2013. Cellceutix is paying $2.1mm in cash, issuing 1.4mm shares (worth $2.7mm), and will not assume any PolyMedix debt. The transaction includes PolyMedix’s lab and research equipment, real estate, and pipeline-related IP.
Deal Industry
- Pharmaceuticals
-
Biotechnology
-
Drug Discovery Tools
- Bioinformatics
-
Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Cash
- Payment Includes Stock
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Questions?
Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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Cellceutix buys assets of bankrupt PolyMedix for $4.8mm in cash and debt
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