Hawaii Biotech rises from Chapter 11

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