Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.99
PhaseBio Pharmaceuticals Inc entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2022-10-23).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2022-10-23
Exact text from the filing
On October 23, 2022, PhaseBio Pharmaceuticals, Inc. (the “Company”) filed a voluntary petition for relief under Chapter 11 of Title 11 (“Chapter 11”) of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), thereby commencing a Chapter 11 case for the Company (Case No. 22-10995-LSS) (the “Chapter 11 Case”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
PhaseBio Pharmaceuticals Inc entered into Agreement with Chiesi Farmaceutici S.p.A. valued at approximately (i) $40 million in cash to be paid at the closing of the Transaction (subject to adjus (effective 2022-11-04).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Chiesi Farmaceutici S.p.A.
- Value
- approximately (i) $40 million in cash to be paid at the closing of the Transaction (subject to adjus
- Effective
- 2022-11-04
Exact text from the filing
On November 4, 2022, the Company entered into an asset purchase agreement (the “Agreement”) with Chiesi Farmaceutici S.p.A., a private limited company organized under the Laws of Italy (the “Purchaser”), pursuant to which the Purchaser agreed to acquire, subject to the terms and conditions contained in the Agreement, all of the assets of the Company primarily related to the Company’s business in connection with bentracimab, also known as PB2452 (the “Product”), including intellectual property, regulatory documentation and goodwill (collectively, the “Assets”), and to assume certain specified liabilities of the Company (collectively, the “Liabilities” and such acquisition of Assets and assumption of Liabilities, the “Transaction”), subject to the terms and conditions contained therein.
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