April 26, 2017 7:24 AM ET

Healthcare Providers and Services

Company Overview of Pharmacogenetics Diagnostic Laboratory, LLC

Company Overview

On November 8, 2016, Pharmacogenetics Diagnostic Laboratory, LLC filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Western District of Kentucky. Pharmacogenetics Diagnostic Laboratory, LLC, a commercial and research laboratory, provides pharmacogenetic testing and interpretive services. The company also offers molecular diagnostic testing services; develops custom array profiles; and manages FDA clinical trials. It serves physicians, clinics and hospitals, contract research organizations, pharmacy and genetic benefits managers, and pharmaceutical companies. Pharmacogenetics Diagnostic Laboratory, LLC was incorporated in 2004 and is headquartere...

201 East Jefferson Street

Suite 309

Louisville, KY 40202

United States

Founded in 2004

Phone:

502-569-1584

Fax:

502-569-1586

Key Executives for Pharmacogenetics Diagnostic Laboratory, LLC

Founder, Chairman of the Board and President
Executive Vice President of Operations
Director of Communications
Director of Business Operations and Development
Director of Laboratory Operations
Compensation as of Fiscal Year 2016.

Pharmacogenetics Diagnostic Laboratory, LLC Key Developments

Additional DIP Financing Approved for Pharmacogenetics Diagnostic Laboratory, LLC

The US Bankruptcy Court gave an order to Pharmacogenetics Diagnostic Laboratory, LLC to obtain DIP financing on March 10, 2017. As per the order, the debtor has been authorized to obtain $0.05 million from University of Louisville Foundation, Inc. The funds will be used to pay fees of Houston Consulting. Foundation will remit $25,000 directly to Houston Consulting for January 15, 2017 through February 15, 2017 and remaining owed for the period ending March 15, 2017 will be financed as per the DIP terms. The DIP loan would carry an interest rate of prime plus 1% p.a. The DIP facility would mature either on December 1, 2017 or entry of an Order approving a subsequent DIP financing or entry of an order dismissing or converting the case or appointment of Chapter 11 trustee, whichever is earlier.

Additional DIP Financing Approved for Pharmacogenetics Diagnostic Laboratory, LLC

The US Bankruptcy Court gave an order to Pharmacogenetics Diagnostic Laboratory, LLC to obtain DIP financing on February 23, 2017. As per the order, the debtor has been authorized to obtain $0.05 million from University of Louisville Foundation, Inc. The funds will be used to pay fees of Houston Consulting. The DIP loan would carry an interest rate of prime plus 1% p.a. The DIP facility would mature either on December 1, 2017 or entry of an Order approving a subsequent DIP financing or entry of an order dismissing or converting the case or appointment of Chapter 11 trustee, whichever is earlier.

Additional DIP Financing Rejected for Pharmacogenetics Diagnostic Laboratory, LLC

The US Bankruptcy Court gave an order denying Pharmacogenetics Diagnostic Laboratory, LLC to obtain DIP financing on February 23, 2017. The Court erroneously granted approval on Secured Post-Petition Financing at the hearing held on February 22, 2017. The United States Trustee would need to review prior to the Court granting approval on the financing. Therefore, the order authorizing debtor to obtain super-priority secured post-petition financing has been vacated. The debtor applied for DIP financing of $0.05 million from University of Louisville Foundation, Inc. to pay fees of Houston Consulting.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
November 8, 2016
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