 |
Joele Frank shop is handling today’s bankruptcy filing of Insys Therapeutics, which agreed last month to pay a $225M federal settlement connected to the sales of its Subsys opioid drug.
The Chapter 11 filing is to facilitate the sale of assets and address legal liabilities, says the company.
Following a review of strategic alternatives, CEO Andrew Long determined that court-supervised sales of assets is the best route for a “fair and transparent” process.
The Wall Street Journal reports the bankruptcy petition acknowledges that the federal government won’t be paid in full. Insys will petition the judge to cap the federal proceeds from the asset sale at $190M.
Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag, Matthew Gross and Andrew Squire are working the account.
They are assisted by Jackie Marcus and Chris Hodges from Alpha IR Group.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
