Biora Therapeutics Successfully Completes Restructuring Process
Biora Therapeutics has successfully completed its court-supervised restructuring, emerging as a privately held company with improved financial standing. The restructuring resulted in deleveraged debt and significant new financing to support the company's future operations.
The company's ownership has transferred to certain lenders, including Davidson Kempner Capital Management LP, Context Capital Management , and funds managed by Highbridge Capital Management . As part of the reorganization plan, existing common shares were cancelled.
Biora's focus remains on developing the BioJet™ platform, an orally ingestible liquid jet technology capable of delivering over 300 microliters of biologic pharmaceuticals. The company is currently testing an updated 00-size BioJet device while expanding relationships with pharmaceutical collaborators.
Biora Therapeutics ha completato con successo la sua ristrutturazione sotto supervisione giudiziaria, emergendo come un'azienda privata con una posizione finanziaria migliorata. La ristrutturazione ha portato a un indebitamento ridotto e a un significativo nuovo finanziamento per supportare le operazioni future dell'azienda.
La proprietà dell'azienda è stata trasferita a determinati creditori, tra cui Davidson Kempner Capital Management LP, Context Capital Management e fondi gestiti da Highbridge Capital Management. Come parte del piano di riorganizzazione, le azioni comuni esistenti sono state annullate.
Il focus di Biora rimane sullo sviluppo della piattaforma BioJet™, una tecnologia liquida ingeribile per via orale in grado di erogare oltre 300 microlitri di farmaci biologici. L'azienda sta attualmente testando un dispositivo BioJet di dimensione 00 aggiornato, mentre espande le relazioni con i collaboratori farmaceutici.
Biora Therapeutics ha completado con éxito su reestructuración supervisada por el tribunal, emergiendo como una empresa privada con una situación financiera mejorada. La reestructuración resultó en una reducción de la deuda y un financiamiento nuevo significativo para apoyar las operaciones futuras de la empresa.
La propiedad de la empresa ha sido transferida a ciertos prestamistas, incluyendo a Davidson Kempner Capital Management LP, Context Capital Management y fondos gestionados por Highbridge Capital Management. Como parte del plan de reorganización, se cancelaron las acciones comunes existentes.
El enfoque de Biora sigue siendo el desarrollo de la plataforma BioJet™, una tecnología líquida ingerible por vía oral capaz de entregar más de 300 microlitros de productos farmacéuticos biológicos. La empresa está actualmente probando un dispositivo BioJet de tamaño 00 actualizado, mientras expande las relaciones con colaboradores farmacéuticos.
Biora Therapeutics는 법원 감독 하에 성공적으로 구조 조정을 완료하고 재정 상태가 개선된 비상장 회사로 탈바꿈했습니다. 이번 구조 조정으로 부채가 감소하고 향후 회사 운영을 지원하기 위한 상당한 신규 자금이 확보되었습니다.
회사의 소유권은 Davidson Kempner Capital Management LP, Context Capital Management, Highbridge Capital Management가 관리하는 펀드를 포함한 특정 대출자에게 이전되었습니다. 재조정 계획의 일환으로 기존의 보통주가 취소되었습니다.
Biora의 초점은 300마이크로리터 이상의 생물학적 제제를 전달할 수 있는 경구용 액체 제트 기술인 BioJet™ 플랫폼 개발에 남아 있습니다. 회사는 현재 업데이트된 00사이즈 BioJet 장치를 테스트하고 있으며, 제약 협력업체와의 관계를 확장하고 있습니다.
Biora Therapeutics a réussi à achever sa restructuration supervisée par le tribunal, émergeant en tant qu'entreprise privée avec une situation financière améliorée. La restructuration a abouti à un allégement de la dette et à un financement nouveau significatif pour soutenir les opérations futures de l'entreprise.
La propriété de l'entreprise a été transférée à certains prêteurs, y compris Davidson Kempner Capital Management LP, Context Capital Management et des fonds gérés par Highbridge Capital Management. Dans le cadre du plan de réorganisation, les actions ordinaires existantes ont été annulées.
Le focus de Biora reste sur le développement de la plateforme BioJet™, une technologie liquide ingérable par voie orale capable de délivrer plus de 300 microlitres de médicaments biologiques. L'entreprise teste actuellement un dispositif BioJet de taille 00 mis à jour tout en élargissant ses relations avec des collaborateurs pharmaceutiques.
Biora Therapeutics hat erfolgreich ihre gerichtlich überwachte Umstrukturierung abgeschlossen und ist als privat geführtes Unternehmen mit einer verbesserten finanziellen Lage hervorgegangen. Die Umstrukturierung führte zu einem reduzierten Schuldenstand und einer erheblichen neuen Finanzierung zur Unterstützung der zukünftigen Geschäftstätigkeiten des Unternehmens.
Das Eigentum des Unternehmens wurde an bestimmte Kreditgeber übertragen, darunter Davidson Kempner Capital Management LP, Context Capital Management und von Highbridge Capital Management verwaltete Fonds. Im Rahmen des Reorganisationsplans wurden die bestehenden Stammaktien annulliert.
Bioras Fokus bleibt auf der Entwicklung der BioJet™-Plattform, einer oral einnehmbaren Flüssigkeitsjet-Technologie, die in der Lage ist, über 300 Mikroliter biologischer Arzneimittel abzugeben. Das Unternehmen testet derzeit ein aktualisiertes BioJet-Gerät in Größe 00 und erweitert gleichzeitig die Beziehungen zu pharmazeutischen Partnern.
- Secured significant new financing for future operations
- Successfully deleveraged debt through restructuring
- Maintains valuable BioJet platform technology with 300+ microliter delivery capability
- Continuing pharmaceutical collaboration partnerships
- Complete cancellation of existing common shares, resulting in total loss for previous shareholders
- Company delisted and transitioned to private ownership
- Required court-supervised restructuring due to financial difficulties
Emerges as a privately held company, with long-term financing to accelerate development of the BioJet™ platform
SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) -- Biora Therapeutics, a biotech company developing the first swallowable autoinjector, today announced the successful completion of its court-supervised restructuring. Through the restructuring process, Biora achieved an improved balance sheet with deleveraged debt and significant new financing to support the business going forward. Biora has emerged from the restructuring as a privately held company.
“Emergence marks a new beginning for us as a leaner, stronger, well-capitalized company with a mission to revolutionize the way biologic pharmaceuticals are delivered to patients,” said Adi Mohanty, Chief Executive Officer of Biora Therapeutics. “We are now positioned to accelerate development of the BioJet platform, our orally ingestible liquid jet technology that can deliver industry-leading payloads of over 300 microliters in a commercially desirable format. We continue to expand relationships with our pharma collaborators for this ground-breaking technology, and our team is excited to complete testing with the updated, 00-size BioJet device.”
In connection with emergence, ownership of the company transitioned to certain of Biora’s lenders, including Davidson Kempner Capital Management LP, Context Capital Management LLC, and funds managed by Highbridge Capital Management LLC. The company’s existing common shares were cancelled, pursuant to the Plan of Reorganization. McDermott Will & Emery acted as Biora’s legal counsel, MTS Health Partners was its investment banker, and Evora Partners, LLC its restructuring advisor.
About Biora Therapeutics
Biora Therapeutics is a biotech company developing the first swallowable autoinjector. Biora’s BioJet™ platform is designed to replace injection with needle-free, oral delivery of macromolecules. BioJet is an ingestible drug-device combination that uses liquid jet injection to deliver drug into the submucosa of the small intestine.
BioJet technology is designed to autonomously deliver a wide range of molecules, including proteins, peptides, and nucleic acids. The ingestible injectable device delivers standard liquid drug formulations with a capacity of >300 microliters, enabling doses greater than 50 milligrams.
For more information, visit bioratherapeutics.com or follow the company on LinkedIn.
Media Contact
media@bioratherapeutics.com
FAQ
What are the key outcomes of Biora Therapeutics' restructuring process?
What happened to existing Biora Therapeutics shareholders after restructuring?
What is Biora Therapeutics' BioJet platform capability?
Who are the new owners of Biora Therapeutics after restructuring?
