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Navidea Biopharmaceuticals Files for Chapter 11 Bankruptcy

Plans to use the Chapter 11 process to explore strategic alternatives, safeguard its assets, and ensure equitable treatment of its creditors.

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By: Charlie Sternberg

Associate Editor, Contract Pharma

Navidea Biopharmaceuticals Inc. has filed for Chapter 11 bankruptcy under Subchapter V in the U.S. Bankruptcy Court for the District of Delaware, aiming to restructure its financial obligations while maintaining limited operations. The biopharmaceutical company, known for its precision immunodiagnostic agents and immunotherapeutics, said the move will allow it to explore strategic alternatives and protect its assets.

Navidea plans to use the bankruptcy process to ensure equitable treatment of creditors and stakeholders. Epiq Corporate Restructuring LLC has been appointed as the claims and noticing agent for the case.

The company’s pipeline is built on its Manocept platform, which targets the CD206 mannose receptor on activated macrophages. Its lead product, Tc99m tilmanocept, is already commercialized. Navidea holds a portfolio of U.S. and international patents and is pursuing global partnerships to advance its development strategy.

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