Pharma Investments, Ventures & Law Weekly
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Nanogen, Inc.
Nanogen Enters Asset Purchase Agreement with Elitech
June 7th, 2009
Nanogen, Inc. (Pink Sheets: NGEN), developer of molecular and rapid diagnostic products, announced that it has executed an asset purchase agreement with The Elitech Group (“Elitech”), a privately held diagnostics company, to acquire substantially all of the assets of Nanogen. As part of the sale, Nanogen filed a voluntary petition under chapter 11 of title 11 of the United States Code in the Bankruptcy Court for the District of Delaware, including a motion seeking bankruptcy court approval of the sale, subject to a court-supervised auction pursuant to Section 363 of the Bankruptcy Code and designating Elitech as the stalking horse bidder. The auction bidding procedures, if approved, would...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-07)
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