Hilco Streambank, a unit of Hilco Global, announced that it has been retained to run an asset sale for Aeris Therapeutics, an innovator in non-surgical therapy for emphysema patients. Assets for sale include the company's global portfolio of patents, research, laboratory and test results, historic correspondence with regulatory agencies, and a significant network of collaborating physicians.
The AeriSeal System was developed to achieve lung volume reduction using a minimally invasive approach and without the attendant risks of LVRS. With AeriSeal System therapy, a physician uses a bronchoscope to direct treatment to the most damaged areas of the patient's lungs. The treatment delivers a proprietary Foam Sealant designed to seal and collapse the treatment area, thereby reducing lung volume. Reduction in lung volume creates more space for adjacent healthier parts of the lungs to function more effectively, thereby improving breathing function and quality of life in patients with advanced emphysema.
In Europe, the AeriSeal System has received CE Mark approval. In United States, the AeriSeal System is an investigational device limited by federal law to investigational use.
In recent years, lung volume reduction surgery (LVRS) has become an accepted therapy for patients with advanced emphysema. LVRS involves the removal of diseased portions of the lung in order to enable the remaining, healthier portions of the lung to function better. This invasive surgical procedure, although effective for many patients, is complicated and is accompanied by substantial morbidity and mortality risk.
Assets are being sold pursuant to an Assignment for the Benefit of Creditors. Craig Jalbert, of Verdolino & Lowey, is the Assignee.
Gabe Fried, CEO of Hilco Streambank said, "Aeris Therapeutics has a unique solution that addresses a considerable market around the world. For patients with emphysema, the AeriSeal system can provide significant relief without surgery. As a leader in this space, Aeris was able to develop a strong portfolio of IP that its new owner can use to shore up the market. We anticipate a robust sale process."
Hilco Streambank is an advisory firm specializing in the marketing, sale and valuation of intangible assets for businesses at all stages. Hilco Streambank is part of Chicago based Hilco Global, an independent financial services company and the world's preeminent authority on helping clients derive maximum value from their assets, providing both healthy and distressed companies with creative insights, solutions, advice and capital. Through 20+ expert business units located around the world Hilco Global provides an extensive range of services including asset appraisals; acquisition and disposition services in retail inventory, consumer products, industrial equipment, Intellectual Property and real estate; private equity investments; and, advisory-consultative solutions.