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Diadexus Chapter 7 Petition Filed

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Diadexus (f/k/a VaxGen) filed for Chapter 7 protection with the U.S. Bankruptcy Court in the Northern District of Arizona, case number 16-30654. The Company also announced that its C.F.O. Leone Patterson will be leaving, effective immediately.

The Company, which focuses on the development and commercialization of cardiovascular diagnostic products addressing needs in cardiovascular disease, is represented by Robert L. Eisenbach of Cooley. Diadexus’ lender, Oxford Finance, notified the Company that it has exercised certain of its rights under the August 2014 loan and security agreement, including with respect to acceleration of obligations and demand for repayment and the removal of all of the available cash and investments from the accounts of the Company.

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The post Diadexus Chapter 7 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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