Company Overview of Bionovo, Inc.
Bionovo, Inc., a pharmaceutical company, is focused on the discovery and development of drugs for the treatment of unmet medical needs in women’s health and cancer in the United States. The company’s drug development process utilizes botanical sources used in traditional Chinese medicine to produce biologically active compounds. Its lead drug candidate, Menerba, a selective estrogen receptor beta agonist, is a proprietary oral formulation of 18 botanically derived active pharmaceutical ingredients designed to reduce the frequency and severity of menopausal hot flashes. This drug candidate is in Phase III clinical trial for the treatment of hot flashes. The company is also developing Bezielle...
5858 Horton Street
Emeryville, CA 94608
Founded in 2002
Key Executives for Bionovo, Inc.
Bionovo, Inc. does not have any Key Executives recorded.
Bionovo, Inc. Key Developments
Motion for Asset Sale Approved for Bionovo, Inc.
Mar 24 17
The US Bankruptcy Court gave an order approving the sale of certain assets of Bionovo, Inc. on March 24, 2017. The debtor had filed a motion for asset sale on February 27, 2017. The debtor has been authorized to sell its certain assets to an identified buyer, pursuant to a term sheet dated December 2016, for a purchase price consisting of payments in the form of royalties over the next five years. The debtor’s assets include intellectual property assets and other related tangible assets. The buyer has deposited a non-refundable deposit of $5,000. The buyer will further deposit a closing fee of $0.01 million and funding fee of $0.05 million. The Buyer would pay to the trustee, royalty amounting to 15% of all gross proceeds until the total amount of such royalty payments equals $0.05 million. Subsequently, the Buyer will pay to the trustee 3% of all gross proceeds for the remainder of the five-year period. During the period, the buyer may elect to buyout trustee’s right to future royalty payments, for an amount of $0.5 minus one-half of the sum of funding fee and royalty payments paid/due. If the buyer does not exercise the buyout by the end of the period, the debtor will have the right to buy back the assets for $1.
SEC Revokes Registration Of Registered Securities Of BioNovo
Dec 30 16
An Administrative Law Judge has issued an Initial Decision of Default as to BioNovo, Inc. The Initial Decision found that the company was issuer of securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act), and the company failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 13a-1 and/or 13a-13 by not filing required periodic reports with the Securities and Exchange Commission (SEC). The Initial Decision finds these allegations to be true and revokes the registration of each class of the company’s registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934.
SEC Orders Hearings On Registration Suspension Or Revocation Against BioNovo For Failure To Make Required Periodic Filings
Oct 28 16
Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of BioNovo, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.
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