Inyx chairman and CEO appeals subsidiaries' DIP approval

By Caroline Salls

Pittsburgh, Sept. 17 - Inyx, Inc. chairman and chief executive officer Jack Kachkar appealed the order approving subsidiary Exaeris, Inc. and Inyx USA Ltd.'s debtor-in-possession financing from Westernbank Puerto Rico, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, in addition to the $3.37 million in Westernbank DIP financing, the companies have also received $3.04 million in interim DIP financing from Kachkar.

Inyx, Inc. 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.

Its subsidiaries - Exaeris and Inyx USA - were placed in bankruptcy on July 2, and their Chapter 11 case number is 07-10887.

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