Sancilio Pharmaceuticals Company, Inc., along with two subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11333). Sancilio, based in Riviera Beach, Florida, develops and markets a variety of pharmaceutical products, including products based on Sancilio’s proprietary Advanced Lipid Technologies platform, a group of drug delivery systems designed to improve the body’s ability to break down and use lipophilic compounds (which include many active pharmaceutical ingredients). Sancilio recently presented the results of a Phase 2 Study for Altemia, a product being developed for the treatment of Sickle Cell Disease. Sancilio’s petition estimates both its assets and liabilities to be between $10 – $50 million. The First Day Declaration has not yet been filed. Sancilio has not yet proposed a claims and noticing agent. Assignment of the cases is pending.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.