Aradigm announces assets sold to Grifols can be licensed on

4 April 2020

Ailing US inhalation specialty products firm Aradigm (OTC PINK: ARDM) says that the Bankruptcy Court has entered an order approving the sale by Grifols (GRF: MC) of the company's assets and intellectual property that pertain to Lipoquin, Free Ciprofloxacin, Apulmiq (three formulations of ciprofloxacin), and any derivatives thereof, which the Spanish drugmaker acquired under an auction process for around $3.24 million in February this year.

The news saw Aradigm’s shares rocket 90% to $0.04 by close of trading on Friday.

Grifols has advised the company that it has entered into an agreement with a third party to license to the third party the intellectual property and other rights it acquired from the company and that the third party has agreed to pursue the development and commercialization of the Aradigm products.

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