PRACS Institute, LLC provides early phase clinical pharmacology, bioanalytical, and scientific affairs services. The company offers Phase I/IIa clinical trials; and development consultancy, regulatory affairs, PK/PD modeling, biostatistics, data management, and medical writing services. The company provides support services, such as project management, clinical laboratory, and clinical monitoring services. It offers services in various therapeutic areas, including allergy, anti-inflammatory, asthma, cardiovascular, dermatology, diabetes, endocrinology, gastroenterology, hematology, infectious disease, nephrology, neurology/psychiatry, oncology, ophthalmology, respiratory, and rheumatology. P...
4801 Amber Valley Parkway South
Fargo, ND 58104
Founded in 2006
Motion for Asset Sale Approved for PRACS Institute, LLC
Feb 18 14
The US Bankruptcy Court gave an order approving the sale of certain assets of PRACS Institute LLC on February 18, 2014. The debtor has been authorized to sell its Miami, Florida assets to Reliable Research Laboratory, Inc., the stalking horse bidder for a purchase price of $0.4 million in cash. The debtor’s assets include computer equipment, furniture and fixtures, clinical lab equipment, leased real property, goodwill and other legal rights, claims and privileges related to the assets in Miami, Florida. The assets will be sold pursuant to an asset purchase agreement dated June 3, 2013. As per the agreement, the buyer shall make a non refundable deposit $0.1 million and the remaining $0.3 million shall be paid at the closing of the transaction. Ronald Hornberger of Plunkett & Gibson, Inc. acted as legal advisor to the debtor.