Biotech Firm Omega Therapeutics OK’d For $14M Ch. 11 Sale
Biotechnology developer Omega Therapeutics received a Delaware bankruptcy judge’s approval Wednesday to sell itself to its debtor-in-possession lender and a major shareholder for $14 million in Chapter 11.
Cole Schotz PC attorney H. C. Jones III, representing the committee of unsecured creditors, said the committee supported the updated sale terms.
“The proposed sale paves a way for a material recovery for unsecured creditors in a case where that was far from a certainty,” Jones said.
The debtor is represented by Eric D. Schwartz, Derek C. Abbott, Andrew R. Remming, Daniel B. Butz, Echo Yi Qian and Luke Brzozowski of Morris Nichols Arsht & Tunnell LLP.
The committee is represented by Justin R. Alberto, Andrew L. Cole, Elazar A. Kosman and H.C. Jones III of Cole Schotz PC.
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