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ActivBiotics Completes Sale of Fixed Assets


1/29/2008 7:07:39 AM

WELLESLEY HILLS, Mass., Jan. 28 /PRNewswire/ -- Joseph F. Finn, Jr., CPA, the Assignee for the Benefit of Creditors of ActivBiotics, today announced the completion the sale of the Company's fixed assets for in excess of $300,000 through an auction on January 24th. In addition, due to the high volume of requests for due diligence materials from prospective buyers for the purchase of the intellectual property, the Company has created an online datasite that allows access to confidential information pertinent to each of the three assets: Rifalazil, antibacterial NCEs, and superoxide dismutase small molecule mimetics.

The sale of ActivBiotics' assets is conducted through an Assignment for the Benefit of Creditors process. The bidding for the assets, which may be purchased separately or in combination, will be conducted on March 14, 2008. Any person interested in purchasing the assets or learning more about the bidding process should contact Mr. Joseph F. Finn, Jr., CPA.

Bidding packages, which contain technical information and the terms of sale, have been assembled and are ready to be distributed subject to a potential purchaser entering into a standard form confidentiality agreement.

Request for Further Information

Interested parties can obtain a bidder's package by contacting Joseph F. Finn, Jr., CPA (jffinnjr@earthlink.net, phone 781-237-8840), Finn, Warnke & Gayton, 167 Worcester Street, Suite 201, Wellesley Hills, MA 02481-3613. For technical information or questions regarding the products, please contact Christo Shalish, cshalish@activbiotics.com.

CONTACT: Joseph F. Finn, Jr., CPA, +1-781-237-8840,
jffinnjr@earthlink.net, for ActivBiotics; or Christo Shalish of
ActivBiotics, cshalish@activbiotics.com

Web site: http://www.activbiotics.com/


Read at BioSpace.com

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