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The bankruptcy rate in the field of biotechnology has increased over the past two years with companies continuing to provide petitions in 2025.
The annual bankruptcy files were less than 10 annually from 2011 to 2022, but they started to increase in 2023 with 14 files and 13 files in 2024. The deposits in 2023 were the highest since 2010, when 14 biotechnology companies advanced that year as well.
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Among the biotechnology companies that were presented for bankruptcy last year, Acorda Therapeutics, the Perlel River, New York, Parkinson’s disease maker and multiple sclerosis treatments, which provided for the protection of Chapter 11 on April 1, 2024.
Related: Another major health care company files to separate 11 bankruptcy
Gamida Cell Inc. , Which develops stem cell treatments for many blood cancers and other disorders that include leukemia and lymphoma, on May 13, 2024, presented the bankruptcy of Chapter 11 previously packed.
Companies that advanced to Chapter 11 in 2025 include the Treathutics, which provided their petition on February 10, 2025, with a restructuring agreement to support the leading drugs in the field of restructuring 08-B to be an airport auction.
MLECLAR TEMPLATES MLECLARER TEMPLATES, which is based in Austin, which is based in Texas, has led to the development of cancer treatment drugs, to bankruptcy of Chapter 11 on April 20, 2025, with plans to deliver their assets to the guaranteed lender as part of the restructuring support agreement.
Photo and colon source; Gety pictures
Synthego files for bankruptcy, Chapter 11
Finally, Synthego Corp. That was stripped of Contenheo Corp in Chapter 11, bankruptcy protection on May 5, seeks to sell its assets for its prior lender.
Related: Main Health Care Files, Chapter 11, Business
The debtor was included from $ 50 million to $ 100 million in assets and $ 100 million to $ 500 million of obligations, including $ 73.4 million of guaranteed debts owed to its lender before the III LP credit division
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The largest inconsistent creditors in the debtor include Wellington Hadley Harbour Master Investors, debtors of $ 51 million; 8vc Co-Invest Fund I, debtor $ 37.1 million; And 8vc Fund I LP, debtor $ 15 million.
The debtor has rapidly growing in revenue from the sales of the advanced genes tools and solutions for the main biological pharmaceutical pharmaceuticals around the world from 2020-2023, according to an announcement issued by the chief employee of the Allen Soong.
The growth of revenues exceeded the cost and investment necessary to support the continuous progress of its technologies, which led to a decrease in margins and the increasing operational losses.
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The company raised the capital to continue its operations, but by the end of 2023, the company did not generate a positive cash flow and the interest burden increased by more than 10 times its size in 2020-2021.
In the spring of 2024, the company sold its engineering cellular business, which reduced its operational losses by a third, but by February 2025, it was not able to generate sufficient revenues to serve its debts.
The company decided that the provision of Files for Chapter 11 Protection was the best option to maintain the value of the institution, protect commercial operations, and regulate the sale of the company.
The debtor submitted a proposal to obtain up to 50 million dollars from the debtors’ financing to those who are referred to the perception that includes a 37.5 million dollars from pre -division debts, at a value of 12.5 million dollars of new funds for $ 5 million funded on a temporary order.
Synthego won a temporary approval of the DIP loan on May 9.
Synthego seeks to sell its assets
The debtor also seeks to agree to sell the company to realize it in selling bankruptcy with a chase horse offer calling for a credit offer of $ 74.4 million in debts owed to it, in addition to a decline of 12.5 million dollars.
The chase horse also receives bidding protection that requires 1.5 % termination fee of credit offer, up to one million dollars in paying expenses, and $ 500,000.
The debtor in San Matteo, California, which was created in 2012, manufactures genetic products, such as RNAS Directory, for sale for biomedical pharmaceutical products to develop medicines, research and academic institutions. It runs a manufacturing facility in Redwood City, California.
SYNTHEGO customer base consists of 25 % of pharmaceutical and biotechnology companies, 50 % of small and medium -sized biotechnology companies, and 25 % of academic medical centers.
Related: Files of the Great Health Care Company to liquidate Chapter 7
