Codiak BioSciences sets bid procedures; seeks May 23 auction

By Sarah Lizee

Olympia, Wash., April 10 – Codiak BioSciences, Inc. is seeking approval of bid procedures for its assets, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The assets consist primarily of the company’s intellectual property.

Codiak is also seeking approval to choose one or more stalking horse bidders for the assets.

Key dates under the bid procedures include a bid deadline of 5 p.m. ET on May 17, a May 23 auction, a May 26 sale hearing and a closing date within 15 days of entry of the sale order.

A hearing on approval of the bids procedures is scheduled for April 28.

Codiak BioSciences is a clinical-stage biopharmaceutical company based in Cambridge, Mass. The company filed bankruptcy on March 27 under Chapter 11 case number 23-10350.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.