Hemosol sale proposal deadline extended to May 11; receiver negotiating with potential buyer

By Caroline Salls

Pittsburgh, March 28 - Hemosol Corp. and affiliate Hemosol LP obtained a 45-day extension to their deadline for filing proposals for creditors in connection with the sale of the company's assets, according to a company news release.

Hemosol now has until May 11 to file one or more proposals.

According to the release, following the marketing and sale process of Hemosol's business and assets, interim receiver PricewaterhouseCoopers Inc. has entered into exclusive negotiations with a potential buyer for all of the company's assets.

Hemosol, a Toronto biopharmaceutical company, filed for bankruptcy on Dec. 2 in the Ontario Superior Court of Justice.

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