Biopure (NASDAQ:[[ticker:BPUR]]), which has struggled financially for years while making a case to U.S. and European regulators for its blood substitute, has filed for Chapter 11 bankruptcy, the company announced late yesterday. The Cambridge, MA-based firm has agreed to sell its assets to OPK Biotech, but Biopure will also seek competitive bids for the assets in an auction supervised by the bankruptcy court in Massachusetts. The Boston Herald wrote this little piece today about some of the setbacks that led to the 25-year-old company’s bankruptcy filing.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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