Inyx management group close to finalizing buyout, privatizing company

By Lisa Kerner

Charlotte, N.C., March 20 - Inyx, Inc. said its senior management group expects to finalize the financing and present its going-private offer by the end of this week to a special committee of the Inyx board of directors.

The management group is led by Inyx chairman and chief executive officer Jack Kachkar, according to a company news release.

In addition, Kachkar expects to finalize the financing to enable the company to recapitalize its balance sheet and to complete other strategic initiatives.

Inyx said it expects to shortly pay off debt of about $125 million.

The senior management group presented its plans for a cash buyout of Inyx in January.

Inyx is a pharmaceutical company based in New York that develops drug-delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions.

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