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Impel Pharmaceuticals cancels auction, eyes sale to stalking horse
By Sarah Lizee
Olympia, Wash., Jan. 29 – Impel Pharmaceuticals Inc. canceled an auction for its assets and will seek approval to sell its assets to stalking horse bidder JN BidCo LLC, according to a notice filed Saturday with the U.S. Bankruptcy Court for the Northern District of Texas.
The company said it did not receive any qualified bids by the deadline.
The proposed purchase price under the stalking horse agreement is $17.5 million.
A sale hearing will be held on Feb. 1.
Impel Pharmaceuticals is a commercial-stage pharmaceutical company. The company filed bankruptcy on Dec. 19 under Chapter 11 case number 23-80016.
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