Eiger BioPharmaceuticals names Sentynl bid winner for Zokinvy assets

By Sarah Lizee

Olympia, Wash., April 19 – Eiger BioPharmaceuticals, Inc. named stalking horse bidder Sentynl Therapeutics, Inc. the winning bidder for its Zokinvy (lonafarnib) assets, according to a notice filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

Under the terms of the original stalking horse agreement, Sentynl Therapeutics agreed to pay up to $26 million, subject to purchase price adjustments, including per diem reductions if the sale closed after April 24.

Following an auction held Wednesday, the company said it had accepted Sentynl’s $45.2 million final bid as the winning bid for the assets.

Eton Pharmaceuticals, Inc.’s $46 million bid was named the backup bid.

A sale hearing will take place on April 23.

For all other assets besides the Zokinvy assets, the bid deadline is June 10, an auction is set for June 14, and a sale hearing will take place on June 20.

The Palo Alto, Calif.-based biopharmaceutical company filed bankruptcy on April 1 under Chapter 11 case number 24-80040.

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