September 23, 2019 / 10:41 PM / 3 months ago

IN BRIEF: BioSerenity to buy NovaSom out of bankruptcy

NovaSom Inc, a bankrupt developer of a medical device used at home to record sleep apnea symptoms, said in a filing on Monday it is canceling its planned auction after accepting a $5.5 million offer for its assets from BioSerenity Inc.

BioSerenity was the only bidder other than stalking-horse VirtuOx Inc to submit an offer and there are no signs other bids will be made, NovaSom said in its filing in U.S. Bankruptcy Court in Delaware.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2miinF3

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