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NephroGenex sold assets to Medpace Research
Background: NephroGenex, headquartered in Raleigh, NC, is a specialty pharmaceutical Company that focused 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 III clinical program for oral Pyridorin for the treatment of diabetic nephropathy and 2) its Phase I ready program for IV Pyridorin for the treatment of acute kidney injuries.
Cassel Salpeter:
Served as the exclusive financial advisor to the Company
Served as restructuring advisor to debtor in a bankruptcy matter, identifying and contacting over 275 strategic and financial parties
Challenges:
Drug failed to show a significant effect over the placebo in Phase III clinical trails
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.
https://www.casselsalpeter.com/wp-content/uploads/2019/11/NephroGenex.jpg250250roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2017-05-01 17:35:072020-12-08 14:39:11NephroGenex sold assets to Medpace Research
