ActivBiotics' Intellectual Property Assets, Including Drug Product Candidates, Sold for $3.5 Million

07-Apr-2008

Joseph F. Finn, Jr., CPA, the Assignee for the Benefit of Creditors of ActivBiotics, announced the completion of the sale of ActivBiotics intellectual property assets for $3.5 million. The assets consisted of 1) Rifalazil, a Phase II antibiotic, 2) a library of novel rifamycin compounds, and 3) a clinical stage superoxide dismutase mimetic (SODm) and a library of SODm small molecules.

The sale of the assets was conducted through an Assignment for the Benefit of Creditors. This process entails transference of the assets to a fiduciary who then liquidates them for the benefit of the creditors of the company.

Other news from the department business & finance

Most read news

More news from our other portals

Fighting cancer: latest developments and advances