Acquisition Opportunity:

Intellectual Property Investment Opportunity - Nano biotechnology Patent and License Agreement

Calando PhramaceuticalsHilco Streambank has been retained as the exclusive agent for purposes of marketing and selling certain intellectual property (the “Assets”) of Calando Pharmaceuticals, Inc. (the “Company”). Calando Pharmaceuticals filed for protection under Chapter 7 of the US Bankruptcy Code on January 29th, 2014 (case no. 14-10152). Hilco Streambank is the court appointed agent for the Chapter 7 Trustee.

BACKGROUND

Calando Pharmaceuticals, Inc. was a clinical stage Nano biotechnology company at the forefront of RNAi therapeutics. The company developed nanoparticle therapeutics that use patented sugar (cyclodextrin)-based polymer technologies as a drug delivery system for siRNA.

Engineered to reduce the debilitating effects of cancer treatment, the company’s proprietary molecules are designed to improve the safety and efficacy of cancer therapeutics using siRNA as the active ingredient. The target-agnostic platform technology has the potential to be applied to a wide range of diseases beyond cancer as well as to therapeutic classes beyond siRNA therapeutics.

In 2009, the company successfully completed a Phase 1 clinical study with its first anti-cancer drug and therapeutic candidate, IT-101. IT-101, along with Calando's drug delivery platform, Cyclosert™, is now licensed for further development to Cerulean Pharma Inc.

ASSETS FOR SALE

  • United States Patent Number 8.114,983 (issued on 2/4/2012)
  • 1T-101 Agreement, dated June 23, 2009, by and between Calando Pharmaceuticals, Inc. and Cerulean Pharma Inc.
  • Platform Agreement, dated June 23, 2009, by and between Calando Pharmaceuticals, Inc. and Cerulean Pharma Inc., as amended by the First Amendment to Platform Agreement, dated November 1, 2010.

The license and platform Agreements obligate the licensee (Cerulean) to make both milestone and royalty payments to the estate of Calando Pharmaceuticals.

The buyer of these assets will have the right to:

  1. Collect any payments due the Calando Pharmaceuticals, Inc. estate per these Agreements
  2. Further commercialize the technology covered by these Agreements ONLY in the case that the agreements with Cerulean were terminated.

SALE PROCESS

Due Diligence Period, subject to confidentiality agreement, through May 14th, 2015 by which time interested parties must submit a cash offer in a form acceptable to the Chapter 7 Trustee.

An Auction will be held, if there are competing bids, Monday May 18th at 10:00 am ET telephonically.

If acceptable to the Chapter 7 Trustee, the Chapter 7 Trustee will file a motion pursuant to 11 U.S.C. §363 to approve the offer, subject to higher and better offers, with the United States Bankruptcy Court for the District of Delaware.

Please contact Hilco Streambank with any further questions about the Assets or the sale process.