Mergers and Acquisitions: Sell Side for NephroGenex, Inc.

NephroGenex

  • Background:  Headquartered in Raleigh, NC, NephroGenex, Inc. is a specialty pharmaceutical Company that focuses on the development of therapeutics to treat kidney disease.  Based on financial considerations, the firm decided to pause its two key programs: 1) its phase 3 clinical program for oral Pyridorin for the treatment of diabetic nephropathy, and 2) its phase 1 ready program for IV Pyridorin for the treatment of acute kidney injuries.
  • Cassel Salpeter:
    • Served as financial advisor to Debtor
    • Identified and contacted over 275 strategic and financial parties
  • Challenges:
    • Complexity and duration of bankruptcy proceedings
  • Outcome: On May 10, 2017 the United States Bankruptcy Judge for the District of Delaware entered an order confirming the Sale pursuant to a Plan of Reorganization under Chapter 11 of the Bankruptcy Code.  The plan became effective on May 24, 2017.