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Biovet为其癌症疫苗寻求财政支持

  1. Biovet
  2. 癌症疫苗

来源:生物谷 2013-03-11 09:08

2013年3月9日讯 /生物谷BIOON/ --Biovet公司最近提出了一项为旗下癌症疫苗研发项目寻求财政支持的计划,这项计划是由Biovet公司在破产法庭上提出的,Biovet公司希望获得560万美元的资助。同时将公司目前所欠的4400万美元债务作为新的资助,以此来完成公司的重建计划。 不过,直到目前为止,法院尚未批准该计划。

2013年3月9日讯 /生物谷BIOON/ --Biovet公司最近提出了一项为旗下癌症疫苗研发项目寻求财政支持的计划,这项计划是由Biovet公司在破产法庭上提出的,Biovet公司希望获得560万美元的资助。同时将公司目前所欠的4400万美元债务作为新的资助,以此来完成公司的重建计划。

不过,直到目前为止,法院尚未批准该计划。(生物谷Bioon.com)

详细英文报道:

Biovest International sees a sunnier financial picture for its cancer vaccine hunt, but first that means filing for Chapter 11 and rejiggering its balance sheet. In a second trip to the bankruptcy court, the Tampa-based outfit seeks approval of a plan to nix debt and bring in $5.6 million in new funding.

The $5.6 million sounds like short money in the megabucks biotech game, but that amount is almost as much as the Pink Sheets-listed company's market value of $5.9 million as of late Friday morning, according to Google Finance.

Cancer vaccines have lost their luster among some investors in the ugly aftermath of Dendreon's ($DNDN) woes in marketing its pioneering prostate cancer product Provenge. Nevertheless, Biovest has plodded along with a penny-stock share price for a while and even during this latest journey into bankruptcy aims to advance efforts to gain approval of its BiovaxID candidate in the European Union and Canada for combating follicular non-Hodgkin's lymphoma. Yet those applications haven't been filed yet.

Biovest is pitching a restructuring plan that involves eliminating $44 million in secured debt from Laurus/Valens Funds and Corp Real, while tapping secured lenders for the $5.6 million. The idea is to convert the $44 million, including the new funding, into common stock. The outfit wants to emerge from Chapter 11 in mid-2013 as it did back in 2010 from a previous exit from bankruptcy.

 

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