CellPro sells to Baxter subsidiary after losing litigation
This article was originally published in Clinica
Executive Summary
Two months after losing a patent infringement case filed by Baxter Healthcare, CellPro is to file for bankruptcy and sell its assets to VIMRx Pharmaceuticals subsidiary, Nexell Therapeutics, which is part-owned by Baxter, for $3 million in securities. CellPro's president and CEO Rick Murdock has resigned and a further 93 jobs are to be cut worldwide.