Spherics, Inc. Assignee Announces Strong Interest in Sealed Bid Auction in Spherics Intellectual Property
WELLESLEY HILLS, Mass., – Joseph F. Finn, Jr., C.P.A. (“Finn”), Assignee of the assets of Spherics, Inc. (“Spherics”) for the benefit of creditors, said, in an interview today, that interest in the Company’s therapeutic drugs and technology platforms was strong. Numerous confidential agreements have been signed and conference calls between the Company’s science team and prospective buyers have been productive and informative. The intellectual property will be sold at a sealed bid auction on October 10, 2008.
Persons interested in bidding must sign a Confidentiality Agreement (“CA”) obtained from Finn’s office — jffinnjr@earthlink.net or 781-237-8840. They will then receive a bid package and access to the Spherics electronic data room.
About Spherics
Spherics has built a strong intellectual property position around its drug delivery technologies and products. The Company has a broad range of issued US and international patents that they have applied to their four central nervous system products. These patents cover polyanhydride-based bioadhesive polymers and nanotechnology (PIN(TM)). In addition to these issued patents, Spherics has filed numerous applications covering compositions of matters of its proprietary polymers (SPHEROMERS(TM)), novel oral delivery systems (including BIOGIT(TM), BIOROD(TM) and PIN(TM)), manufacturing methods, methods of use, formulations and product compositions.
About Joseph F. Finn, Jr., C.P.A.
Joseph F. Finn, Jr., is the founding partner of the firm, Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts. He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-four (34) years. His most recent Assignment for the Benefit of Creditors in the Biotech field was ActivBiotics, Inc.
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