DermTech Completes Transaction for Asset Sale; Operations Continue Under New Ownership and Management
DermTech (OTC: DMTKQ) has completed its Asset Purchase Agreement with DERM-JES Holdings, , resulting in the sale of substantially all of the company's assets. The new entity, DermTech, , will continue operations as a private company, focusing on precision dermatology and non-invasive skin genomics solutions. Led by dermatologists, dermatopathologists, and experienced professionals, the company will maintain its laboratory in San Diego, CA, and continue processing orders for the DermTech Melanoma Test (DMT).
The transaction was approved by the U.S. Bankruptcy Court for the District of Delaware on August 15, 2024, under Section 363 of the U.S. Bankruptcy Code. DermTech does not expect its stockholders to receive value from the sale or the Chapter 11 process. The company will cease all operations except those related to the bankruptcy and dissolution.
DermTech (OTC: DMTKQ) ha completato il suo Accordo di Acquisto di Attività con DERM-JES Holdings, portando alla vendita della maggior parte degli asset dell'azienda. La nuova entità, DermTech, , continuerà le operazioni come società privata, concentrandosi sulla dermatologia di precisione e sulle soluzioni genomiche cutanee non invasive. Guidata da dermatologi, dermatopatologi e professionisti esperti, l'azienda manterrà il proprio laboratorio a San Diego, CA, e continuerà a elaborare ordini per il DermTech Melanoma Test (DMT).
L'operazione è stata approvata dal Tribunale Fallimentare degli Stati Uniti per il Distretto del Delaware il 15 agosto 2024, ai sensi della Sezione 363 del Codice Fallimentare degli Stati Uniti. DermTech non si aspetta che i suoi azionisti ricevano valore dalla vendita o dal processo del Capitolo 11. L'azienda cesserà tutte le operazioni tranne quelle relative al fallimento e alla liquidazione.
DermTech (OTC: DMTKQ) ha completado su Acuerdo de Compra de Activos con DERM-JES Holdings, lo que resultó en la venta de prácticamente todos los activos de la compañía. La nueva entidad, DermTech, , continuará operando como una empresa privada, enfocándose en dermatología de precisión y soluciones de genómica cutánea no invasiva. Liderada por dermatólogos, dermatopatólogos y profesionales experimentados, la empresa mantendrá su laboratorio en San Diego, CA, y continuará procesando pedidos para la Prueba de Melanoma DermTech (DMT).
La transacción fue aprobada por el Tribunal de Quiebras de EE.UU. para el Distrito de Delaware el 15 de agosto de 2024, bajo la Sección 363 del Código de Quiebras de EE.UU. DermTech no espera que sus accionistas reciban valor de la venta o del proceso del Capítulo 11. La compañía cesará todas las operaciones excepto aquellas relacionadas con la quiebra y disolución.
DermTech (OTC: DMTKQ)는 DERM-JES Holdings와의 자산 매입 계약을 완료하여 회사 자산의 대부분을 판매했습니다. 새로운 업체인 DermTech는 개인 회사로서 Precision 피부과와 비침습적 피부 유전체 솔루션에 집중하여 운영을 계속할 것입니다. 피부과 의사, 피부병리학자 및 숙련된 전문가들이 이끄는 이 회사는 샌디에고, CA에 있는 실험실을 유지하며 DermTech 멜라노마 테스트 (DMT)에 대한 주문 처리를 계속합니다.
이번 거래는 2024년 8월 15일에 델라웨어 지방법원에서 미국 파산법 제363조에 따라 승인되었습니다. DermTech는 주주들이 매각이나 11장 절차에서 가치를 받기를 기대하지 않습니다. 회사는 파산 및 청산과 관련된 운영을 제외한 모든 운영을 중단할 것입니다.
DermTech (OTC: DMTKQ) a finalisé son accord d'achat d'actifs avec DERM-JES Holdings, entraînant la vente de pratiquement tous les actifs de l'entreprise. La nouvelle entité, DermTech, , poursuivra ses opérations en tant qu'entreprise privée, en se concentrant sur la dermatologie de précision et les solutions de génomique cutanée non invasives. Dirigée par des dermatologues, des dermatopathologistes et des professionnels expérimentés, l'entreprise conservera son laboratoire à San Diego, CA, et continuera à traiter les commandes pour le Test de Mélanome DermTech (DMT).
La transaction a été approuvée par le tribunal de la faillite des États-Unis pour le district du Delaware le 15 août 2024, en vertu de la section 363 du code des faillites des États-Unis. DermTech ne s'attend pas à ce que ses actionnaires reçoivent de la valeur de la vente ou du processus du chapitre 11. L'entreprise cessera toutes ses opérations, à l'exception de celles liées à la faillite et à la dissolution.
DermTech (OTC: DMTKQ) hat seine Vermögensübertragungsvereinbarung mit DERM-JES Holdings abgeschlossen, was zum Verkauf nahezu aller Vermögenswerte des Unternehmens führte. Die neue Einheit, DermTech, , wird ihre Geschäfte als privates Unternehmen fortsetzen und sich auf präzise Dermatologie und nicht-invasive Hautgenomiklösungen konzentrieren. Geleitet von Dermatologen, Dermatopathologen und erfahrenen Fachleuten wird das Unternehmen sein Labor in San Diego, CA beibehalten und weiterhin Bestellungen für den DermTech Melanomtest (DMT) bearbeiten.
Die Transaktion wurde am 15. August 2024 vom US-Insolvenzzentrum des Delaware District Court gemäß Section 363 des US-Insolvenzrechts genehmigt. DermTech erwartet nicht, dass ihre Aktionäre einen Wert aus dem Verkauf oder dem Chapter-11-Prozess erhalten. Das Unternehmen wird alle Aktivitäten einstellen, mit Ausnahme derjenigen, die mit der Insolvenz und Liquidation verbunden sind.
- Continuation of DermTech's operations under new ownership
- Retention of state-of-the-art laboratory in San Diego
- Continued processing of DermTech Melanoma Test (DMT) orders
- New management team with expertise in dermatology and laboratory operations
- Stockholders not expected to receive value from the asset sale or Chapter 11 process
- Cessation of all operations unrelated to bankruptcy and dissolution
- Loss of public company status, becoming a private entity
Led by a dedicated team of dermatologists, dermatopathologists and experienced laboratory and industry professionals, DermTech, LLC’s focus will be a renewed commitment to quality and customer support. The now-private company will remain in its state-of-the art laboratory in
Following completion of the court-approved auction process, DermTech selected DERM-JES Holdings, LLC as the winning bidder. At the Sale Hearing on August 15, 2024, the
Additional information regarding the Chapter 11 process is available at https://cases.stretto.com/DermTech/. Stakeholders with questions may call the Company’s claims agent Stretto at (855) 468-2381 or email at TeamDermTech@Stretto.com. At this time, the Company does not expect its stockholders to receive value in connection with the sale under the APA or in connection with the Chapter 11 and any resulting dissolution. DermTech expects to cease all operations other than those in connection with the Chapter 11 and dissolution.
DermTech is advised in this matter by Wilson, Sonsini, Goodrich & Rosati, PC, AlixPartners, Inc., Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., and TD Cowen, a division of TD Securities. DERM-JES Holdings, LLC is advised by Polsinelli.
About DermTech, LLC
DermTech, LLC provides genomic analysis of skin samples collected using its Smart Stickers™. DermTech, LLC develops and markets products that facilitate the assessment of melanoma. For additional information, please visit DermTech
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of DermTech may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” and similar expressions are intended to identify such forward‑looking statements. These forward-looking statements include, without limitation, expectations and other statements with respect to: results of the Chapter 11 process and cessation of operations. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain risks and other factors, including risks and uncertainties relating to the Company’s Chapter 11 cases and other risks and uncertainties included in the “Risk Factors” section of the most recent Annual Report on Form 10-K filed by DermTech with the Securities and Exchange Commission (the “SEC”), and other documents previously filed by DermTech with the SEC. DermTech cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward- looking statements, which speak only as of the date made. DermTech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
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Investor Relations
DermTech
investorrelations@dermtech.com
Source: DermTech, LLC
FAQ
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