According to the U.S. Bankruptcy Court docket, BIND Therapeutics and BIND Biosciences Security filed for Chapter 11 protection in Wilmington, DE.
On April 6, 2016, BIND Therapeutics announced a restructuring plan designed to streamline operations and reduce operating expenses. The restructuring included a workforce reduction of 38%. In addition to the workforce reduction initiatives, the Company also announced that it was reviewing financial and strategic alternatives with the goal of maximizing stockholder value. A corporate release notes, “Potential alternatives to be explored and evaluated during the review process may include raising additional capital, a strategic collaboration with one or more parties, or the licensing, sale or divestiture of some of the Company’s proprietary technologies.”
The Company, which is a clinical-stage nanomedicine platform company, is represented by John Henry Knight of Richards, Layton & Finger. Read more bankruptcy news.
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