Formerly known as Cytomedix, Nuo Therapeutics makes the Aurix hematogel, which is designed to stimulate the body’s native mechanisms to heal wounds. In April 2014, the company landed a $35 million investment from Deerfield Management.
The Gaithersburg, Md.-based company listed assets worth $19.2 million and debts of $13.1 million, including $834,144 owed to Arthrex, $70,486 owed to Sparton Medical Systems, $44,537 owed to Johnson & Johnson (NYSE:JNJ) subsidiary DePuy Spine and $42,203 owed to Pfizer (NYSE:PFE).
Nuo said it plans to ask Deerfield for roughly $9 million worth of debtor-in-possession financing. The company is slated to operate as a debtor-in-possession “and expects that substantially all of its assets will be sold,” according to a press release.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.