ConjuChem enters the biotech graveyard

ConjuChem has filed for bankruptcy, with all its assets being liquidated and all executives resigning their posts. The Montreal-based company has been in financial turmoil for some time, and had been looking for buyers since January 2010. With no offers materializing, the company will have to shut its doors. ConjuChem was pursuing the developing long-acting diabetes treatments, and there's no word yet on what will happen to the company's portfolio of drugs. ConjuChem is the latest in a...

Accentia files reorganization plan

Tampa, FL-based Accentia Biopharmaceuticals, which filed for bankruptcy in 2008, has filed a proposed reorganization plan to help it emerge from Chapter 11 protection this summer as a fully restructured company. The plan is expected to support the regulatory advancement of the autoimmune disease therapy, Revimmune, a drug regimen designed to "reboot" the immune system to potentially eliminate multiple sclerosis and significantly reduce disability, the company says in a statement. "Our...