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IMMUNE PHARMACEUTICALS, INC.

(IMNPQ)
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Motion for Asset Sale Filed by Immune Pharmaceuticals, Inc.

07/01/2019 | 12:00am EST

Immune Pharmaceuticals, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on July 1, 2019. The debtor seeks the Court’s approval for the sale of its certain assets to Company A and Alexion Pharmaceuticals, Inc. The identity of Company A is subject to a non-disclosure agreement. The debtor’s assets include anti-eotaxin antibodies, including bertilimumab assets. To qualify as qualified bidder, the interested parties should submit their bids by bid deadline of August 14, 2019., along with good-faith deposit of 10% of the bid price. The initial minimum overbid should be at least $0.3 million more than the initial purchase price. The debtor has scheduled an auction on August 21, 2019. At the auction, the subsequent bids would be in increments of $0.25 million. The purchaser would be entitled to break-up fee of 3% and expense reimbursement of $0.08 million in case of termination of the asset purchase agreement. Sale hearing will be held on September 4, 2019. Mark A. Haddad, and Kenneth S. Leonetti of Foley Hoag LLP acted as legal counsel for Alexion Pharma International Operations Unlimited Company.


© S&P Capital IQ 2019
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Chart IMMUNE PHARMACEUTICALS, INC.
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Immune Pharmaceuticals, Inc. Technical Analysis Chart | IMNPQ | US45254C2008 | MarketScreener
Managers and Directors
Adeel Ahmed-Daudpota President & Chief Executive Officer
Devin J. Shaw Chief Financial Officer
John Zhang Vice President-Research & Development
John A. Neczesny Independent Director
Jeffrey Paley Independent Director
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