Biopure, the financially distressed Cambridge, MA, developer of blood substitutes, said in an SEC filing yesterday that its assets were sold in a bankruptcy court auction as planned to OPK Biotech, a Delaware corporation, for $4 million. OPK also plans to buy Biopure’s real estate assets for $850,000. Biopure planned to work with OPK to close the sale of its assets within 30 days. Mass Device blog reports that Biopure’s new owner OPK is controlled by a Russian entrepreneur, Sergei Pugachev, whose personal fortune in mining, retail, and other industries has been estimated to be worth billions of dollars.
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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