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Cellceutix buys assets of bankrupt PolyMedix for $4.8mm in cash and debt

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
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Intra-Biotech Deal
    • Payment Includes Cash
    • Payment Includes Stock

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