Privately-held Aperion Biologics (FDBA Crosscart) filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 17-12855. According to BankruptcyData, under a Chapter 7 proceeding, “generally assets are sold by a trustee and the company ceases operation.”
Aperion is located in San Antonio, Texas, and is presently headed by interim C.F.O. James B. Smith. The Company is represented in these proceedings by David M. Klauder of Bielli & Klauder.
Aperion Biologics is a commercial-stage medical device company that addresses the significant need for alternatives to human-based sources for tissues to be used in surgical procedures. According to its website, the Company’s lead product, with 14 patents worldwide, is Z-Lig (Reg.): “an alternative knee ligament reconstruction tissue that is designed to be better for patients and better for surgeons.”
According to Court filings, Aperion indicates estimates liabilities at $10 to $50 million, with estimated assets of just $100,000 to $500,000.
Read more bankruptcy news.