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
-
Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Cash
- Payment Includes Stock
Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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