Zealand Pharma to Acquire Valeritas’ Business and Retain its Employees

Shots:

• Valeritas to sell all its business to Zealand, in an all-cash transaction of ~$23M. Zealand will continue Valeritas’ commercially-focused operations and retain nearly all its employees
• For the smooth accomplishment of a transaction, Valeritas and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the US bankruptcy code in the court. The transaction ponders the retention of total Valeritas’ workforce
• Valeritas expects to obtain Debtor-in-Possession (DIP) financing to support the ongoing operation including the production & commercialization of V-Go. The V-Go wearable insulin delivery device is an all-in-one basal-bolus insulin delivery option for adult patients requiring insulin, eliminating the need for taking multiple daily shots

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: Take Care of Your Diabetes