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February 10, 2016 9:45 PM ET

Biotechnology

Company Overview of Dendreon Corp.

Company Overview

On June 10, 2015, Dendreon Corp. went out of business as per its Chapter 7 liquidation filing under bankruptcy. Dendreon Corporation, a biotechnology company, focuses on the discovery, development, and commercialization of novel therapeutics to enhance cancer treatment options for patients. The company’s product portfolio includes active cellular immunotherapies and a small molecule product candidate that could be applicable to treating various types of cancers. Its product candidates under research and development includes DN24-02, an investigational active cellular immunotherapy, which is in Phase II clinical trial for the treatment of patients with bladder, breast, ovarian, and other soli...

1301 2nd Avenue

Seattle, WA 98101

United States

Founded in 1992

710 Employees

Phone:

206-256-4545

Fax:

206-256-0571

Key Executives for Dendreon Corp.

Dendreon Corp. does not have any Key Executives recorded.

Dendreon Corp. Key Developments

Dendreon Corp. Announces Executive Changes

Dendreon Corp. announced that effective as of the Effective Date, Susan B. Bayh, David C. Stump and Douglas G. Watson no longer serve as members of the board of directors of the company, and Gregory R. Cox and Robert L. Crotty no longer serve as officers of the company. Craig Jalbert shall be sole director of the company and shall serve as the company’s sole officer in his capacity as President, Treasurer and Secretary of the company. Mr. Jalbert is a Principal of Verdolino & Lowey, P.C., the Plan Administrator under the Plan.

Second Amended Liquidation Plan Approved for Dendreon Corp.

The US Bankruptcy Court approved the second amended liquidation plan of Dendreon Corp. on June 2, 2015. As per the approved liquidation plan, Administrative Claims, Professional Fees, Priority Tax Claims, Priority Non-Tax Claims and Secured Claims will be paid in full in cash. 2016 Noteholder Claims of $625.69 million shall receive pro rata share of 100% of the Valeant shares and its pro rata share of available cash in the amount necessary to provide such Holder its pro rata share of Total Distributable Value available to holders of Class 3 claims and Class 4 claims. General Unsecured Claims in the range of $4.26 million to $32.29 million shall receive its pro rata share of Total Distributable Value available to holders of Class 3 claims and Class 4 claims in cash with the recovery of 72% to 75%. Intercompany Claims and Subordinated Claims will not receive any distribution. Interests in the debtor will be cancelled and will not receive any distribution. Intercompany Interests will be reinstated. if 2016 noteholder claims and general unsecured claims receive a 100% recovery and all wind-down costs of the Chapter 11 case are satisfied, then each holder of interest shall be entitled to any residual recovery. And if there is any distribution to interest holders, then each holder of allowed Subordinated claim shall be entitled to a distribution pari passu with the distribution to holders of interests. The plan will be funded by cash in hand and proceeds from the sale of substantially all its assets.

Second Amended Liquidation Plan Filed by Dendreon Corp.

Dendreon Corporation filed second amended plan of liquidation in the US Bankruptcy Court on May 14, 2015. As per the amended plan, if 2016 noteholder claims and general unsecured claims receive a 100% recovery and all wind-down costs of the Chapter 11 case are satisfied, then each holder of interest shall be entitled to any residual recovery. And if there is any distribution to interest holders, then each holder of allowed Subordinated claim shall be entitled to a distribution pari passu with the distribution to holders of interests. Treatment of all the other classes of claims remain same as per the previous plan.

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