Unilife (NSDQ:UNIS) filed for Chapter 11 bankruptcy today, saying it hopes to support the company’s business operations with a $7 million debtor-in-possession financing facility and its remaining cash.
The cash-strapped company owes more than $22 million to Sanofi, Kahle Automation, Morgan Stanley, Hikma Pharmaceuticals and MECO Inc., according to documents that Unilife filed in the U.S. Bankruptcy Court for the District of Delaware.
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