As top in­vestor makes its play to grab lead drug, Phase­Bio coun­ters with Chap­ter 11, stalk­ing-horse bid

A few weeks af­ter de­vel­op­ment in­vestor SFJ Phar­ma­ceu­ti­cals made a lunge for its FDA-bound blood drug, the team at strug­gling Phase­Bio is not ready to go un­der the waves quite yet.

Phase­Bio to­day hit back at SFJ’s at­tempt to grab rights to ben­tracimab, de­signed to re­verse the ef­fects of a blood thin­ner, as it makes its way to the FDA in search of a mar­ket­ing de­ci­sion. The biotech has filed for Chap­ter 11 bank­rupt­cy pro­tec­tion, look­ing to set up a quick auc­tion of the ther­a­py to the high­est bid­der, which they say can be sold with­out any en­cum­brances.

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