Epix To File For Bankruptcy If Restructuring Flops

Law360, New York (April 7, 2009, 12:00 AM EDT) -- Epix Pharmaceuticals Inc. says it may have to file for bankruptcy protection if it is unable to restructure its debt through an exchange offering of $100 million in convertible notes.

The Massachusetts-based biopharmaceutical company said Tuesday that it had commenced an exchange offer for senior convertible notes due in 2024 for shares of common stock and a cash payment.

Epix also said Tuesday that it had sold the U.S., Canadian and Australian rights for its magnetic resonance angiography agent, MS-325, to Lantheus Medical Imaging Inc. for...
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