Bank­rupt an­tibi­otics mak­er Ar­a­digm turns to old part­ner/in­vestor for fi­nal $3M fire sale

Gri­fols once paid Ar­a­digm $26 mil­lion for a stake in its in­haled an­tibi­otics. But with Ar­a­digm now in bank­rupt­cy, the Span­ish drug­mak­er is dish­ing out a fi­nal $3.2 mil­lion to buy it all.

The fire sale — which comes one year af­ter Ar­a­digm filed for Chap­ter 11 fol­low­ing a reg­u­la­to­ry tri­fec­ta for dis­as­ter — will see Gri­fols ob­tain as­sets and IP to Apul­miq (for­mer­ly Pul­maquin and Lin­haliq in Eu­rope), Lipo­quin and free ciprofloxacin. In ad­di­tion to waiv­ing its claims in the bank­rupt­cy case, Gri­fols al­so agreed to mile­stone pay­ments up to $3 mil­lion more up­on any reg­u­la­to­ry ap­provals.

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