Cellceutix acquires PolyMedix assets from bankruptcy court
US clinical-stage biopharma firm Cellceutix (OTCBB: CTIX) has acquired substantially all of the assets of the company formerly known as PolyMedix, which developed small-molecule drugs for the treatment of infectious diseases and innate immunity disorders, from the bankruptcy court.
PolyMedix filed for Chapter 7 bankruptcy protection on April 1, 2013. The acquisition includes the PolyMedix pipeline of nine compounds as well as the substantial equipment assets at PolyMedix' 25,000-square-foot headquarters and laboratory.
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