One year after selling its dengue vaccine research, Hawaii Biotech has come out of Chapter 11 bankruptcy. The company filed for reorganization protection back in December 2009.
"This is a significant milestone and an important day for Hawaii Biotech," said company CEO Elliot Parks, according to the Honolulu Star-Advertiser. "We worked closely with our creditors and shareholders to accomplish this goal and appreciate their cooperation and understanding."
The company continues to work on a tick-bourne encephalitis vaccine at its Aiea, HI facility, and is also working on a malaria vaccine with the University of Hawaii at Manoa. Last year, the company sold its dengue vaccine and certain other assets to Merck.
- read the Honolulu Star-Advertiser post
Special Report: Hawaii Biotech - 2010 Biotech Graveyard