Idogen has submitted a formal application for bankruptcy
Idogen has filed for bankruptcy. Several discussions regarding reverse acquisitions have taken place, but with no successful outcome. The sale of the technology platform did not receive bids valued at a level required to continued operation.
Despite diligent and continuous effort up until the day of filing for bankruptcy, Idogen has been unsuccessful in the two procedures that were needed to continue financing the company. Consequently, the stock has been halted for trading.
”We regret that the transactions involving reverse merger acquisitions did not succeed and that we have not received bids for the technology platform that would enable the company to continue. We are therefore no longer able to pay our running costs and debts, and are now forced to formally file for bankruptcy” says Christina Herder, acting CEO.
For further information, please contact:
Christina Herder, acting CEO, Idogen AB
Tel: +46 70 374 71 56
E-mail: christina.herder@idogen.com
The information was submitted for publication through the agency of the contact persons set out above on July 7, 2023, at 07:54 CET.
Certified Advisor:
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Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company’s most advanced program, IDO 8 is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies. For these hemophiliac patients, there is significant medical need for restoring the clinical effects of their treatment with factor VIII. This is a unique market positioning that over the long term could replace immune tolerance induction (ITI) treatments, with significant market potential. The planned IDO 8 clinical trial will validate the company’s technology platform and facilitate a range of other applications in fields such as organ transplants (IDO T) and autoimmune diseases (IDO AID). More information about Idogen is available via www.idogen.com.