Synergy fourth amended plan unanimously accepted by voting creditors

By Caroline Salls

Pittsburgh, April 16 – Synergy Pharmaceuticals Inc.’s fourth amended plan of reorganization was unanimously accepted by voting creditors, according to a ballot report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the plan was accepted by all five holders of $37.11 million in term loan claims, all 15 holders of $18.22 million in general unsecured claims against the Synergy Advanced Pharmaceuticals, Inc. debtor and all 54 holders of $19.1 million in general unsecured claims against the Synergy Pharmaceuticals debtor.

The plan confirmation hearing is scheduled for April 23.

Synergy is a New York-based biopharmaceutical company focused on the development and commercialization of novel gastrointestinal therapies. The company filed bankruptcy on Dec. 12 under Chapter 11 case number 18-14010.

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