Motion for Asset Sale Approved for EPIRUS Biopharmaceuticals, Inc.
September 19, 2016 at 05:00 am
The US Bankruptcy Court approved the sale of certain assets of Epirus Biopharmaceuticals, Inc. on September 19, 2016. As per the order, debtor has been authorized to sell BOW080 materials, intellectual property and rights to Orphonix, Inc. for $0.95 million, as per the agreement dated September 9, 2016. Buyer has deposited 10% of the purchase price as deposit. Trustee will remit $0.63 million to Hercules from the sale proceeds.