Despite Big Pharma objection, dethroned unicorn Proteus sold in bankruptcy court for $15M

Once valued at $1.5 billion based on the promise of embedding a variety of drugs with sensors to help doctors determine if patients actually were taking prescribed medicines, Proteus Digital Health Inc. was sold out of U.S. Bankruptcy Court to a unit of onetime partner Otsuka Pharmaceuticals Inc. for $15 million. The sale, just two months after Redwood City-based Proteus filed for Chapter 11 bankruptcy protection, was fought to the end by a group of investors, including Swiss drug giant Novartis…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news