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Article: Immune Response Corp. warns of bankruptcy filing. (Biotech).(Brief Article)
- Article from:
- San Diego Business Journal
- Article date:
- December 2, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Carlsbad-based Immune Response Corp. warned in a regulatory filing it may cease operations and file for bankruptcy protection if it is unable to raise additional funds.
Immune Response said Nov. 20 it wants to raise up to $8 million through a private placement.
Cheshire Associates LLC, which is affiliated with Kevin Kimberlin, the firm's principal stockholder, may provide limited debt financing for up. to 60 days.
But Cheshire said the funding depends on Immune Response's ability to cut costs.
The biotech also said that Spencer Trask Ventures Inc., the placement agent for Immune Response's current private offering, may terminate the ...