New Delaware Chapter 11 Filing – Argos Therapeutics, Inc.
Argos Therapeutics, Inc. (f/k/a Merix Bioscience, Inc.) has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12714). According to the First Day Declaration, Argos, based in Durham, N.C., is an immune-oncology company developing immunotherapeutic drugs using its proprietary Arcelis® platform. The First Day Declaration explains that Argos has filed as a result of negative results in a phase 3 clinical trial for one of its products. As a result, Argos—which also has products in three other Phase 2 trials—is seeking to sell substantially all of its assets under section 363 of the Bankruptcy Code, with Cellscript, LLC serving as stalking horse purchaser. No claims and noticing agent has been proposed. The case has been assigned to the Honorable Kevin J. Carey.
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