Biopure Files For Bankruptcy

Biopure Corp. has officially announced its filing for Chapter 11 bankruptcy.

Biopure Corp., which makes Oxyglobin, a hemoglobin-based oxygen carrier, reported July 16 that it filed for Chapter 11 bankruptcy.

The Cambridge, Mass., company said it will continue to manage and operate its business and assets during the bankruptcy case, subject to court supervision.

In the meantime, Biopure agreed to sell most of its assets to OPK Biotech LLC, subject to certain conditions. Even if the transaction closes, Biopure expects “limited, if any, value for the common stockholders in the bankruptcy liquidation process.” <HOME>

Biopure Corp., which makes Oxyglobin, a hemoglobin-based oxygen carrier, reported July 16 that it filed for Chapter 11 bankruptcy.Biopure Corp., which makes Oxyglobin, a hemoglobin-based oxygen carrier, reported July 16 that it filed for Chapter 11 bankruptcy.Biopure, bankruptcy, Oxyglobin, OPK Biotech LLC

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