EPIX Pharmaceuticals ready to sell equipment, intellectual property

By Lisa Kerner

Charlotte, N.C., Aug. 4 - EPIX Pharmaceuticals, Inc. will sell its equipment on Aug. 25, it was announced on Tuesday.

The company will sell its intellectual property, regulatory dossier, fixed assets and clinical inventory at auction on Sept. 30, according to Joseph F. Finn Jr., CPA, the assignee for the company's liquidation.

Interested bidders must sign a confidentiality disclosure agreement, available from Finn (718 237-8840), to receive a bid package.

In July EPIX announced it had entered into an assignment for the benefit of creditors under Massachusetts law in light of the Lexington, Mass.-based pharmaceutical company's lack of capital and inability to obtain additional financing.

A prior EPIX news release said the assignment is a common law business liquidation mechanism under Massachusetts law that is an alternative to a formal bankruptcy proceeding.

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