We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Judge OKs Aphton Sale Of Cancer Drug

Law360 (August 1, 2006, 12:00 AM EDT) -- A bankruptcy judge has signed off on a deal that will allow biopharmaceutical company Aphton Corp. to sell off its gastrointestinal cancer drug to Receptor BioLogix Inc.

U.S. Judge Christopher Sontchi approved the $750,000 cash sale of the vaccine candidate, Insegia, in the U.S. Bankruptcy Court for the District of Delaware on Friday after the price increased 50% at auction.

Aphton, which develops cancer immunotherapies, slipped into Chapter 11 in May after a number of business deals fell apart.

New York-based hedge fund NGN Capital stood...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.