Infinity Pharmaceuticals accepts Deerfield’s bid for assets

By Sarah Lizee

Olympia, Wash., Dec. 7 – Infinity Pharmaceuticals, Inc. named Deerfield Healthcare Innovations Fund III, LP’s bid for its assets the winning bid, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The purchase price consists of $1 million in cash and certain costs associated with assumed executory contracts.

Crimson Biopharma Inc. was named backup bidder.

The bid deadline was 4 p.m. ET on Dec. 1.

An auction is scheduled for Dec. 6, but there were not enough qualified bids to hold the auction, so it was canceled.

A sale hearing is set for Dec. 8.

The Cambridge, Mass.-based clinical-stage biopharmaceutical company filed bankruptcy on Sept. 29 under Chapter 11 case number 23-11640.

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