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July 04, 2015 3:43 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.

Dendreon Corp. Announces Management Changes

Dendreon Corporation and its wholly owned subsidiaries, Dendreon Holdings, LLC, Dendreon Distribution, LLC and Dendreon Manufacturing, LLC (the Company, the Debtors) and Valeant Pharmaceuticals International Inc. and Drone Acquisition Sub Inc., a wholly-owned direct subsidiary of Valeant, entered into a second amended and restated acquisition agreement pursuant to which the Purchaser agreed to acquire substantially all of the assets and certain liabilities of the Debtors for an aggregate purchase price of $495 million. On February 23, 2015, the Company completed the Sale Transaction. Pursuant to the terms of the Acquisition Agreement, prior to the closing of the Sale Transaction, Valeant or one of its affiliates was required to extend offers of employment to each employee of the Company. On February 23, 2015, in connection with the closing of the Sale Transaction, Gregory R. Cox, Executive Vice President, Chief Financial Officer and Treasurer, ceased to be employed by the Company and became an employee of Valeant or one of its affiliates. As a result of the completion of the Sale Transaction, on February 27, 2015, the Debtors terminated without cause the employment of W. Thomas Amick, Chief Executive Officer and President of the Company, effective immediately. As of such date, Mr. Amick is no longer a director of the Company. On February 26, 2015, Mr. Cox accepted new employment with the Company as Chief Financial Officer and Treasurer, and Robert L. Crotty accepted new employment with the Company as General Counsel and Secretary. Mr. Crotty also became President of the Company, effective upon such position becoming vacant at the Company following the departure of Mr. Amick. Mr. Cox, previously served as Executive Vice President, Chief Financial Officer and Treasurer of the Company. Prior to joining Dendreon, Mr. Cox served as Vice President and Treasurer at Corixa Corporation. Mr. Crotty, previously served as Executive Vice President, General Counsel and Secretary of the Company. Previously, Mr. Crotty served as Senior Director, Senior Counsel and Assistant Secretary at NPS Pharmaceuticals Inc. from February 2009 until March 2012.

Dendreon Corp. Reports Revenue Results for the Fourth Quarter and Year Ended December 31, 2014

Dendreon Corp. reported revenue results for the fourth quarter and year ended December 31, 2014. The company finished 2014 strong with a net product revenue for the year ended December 31, 2014 of $303.8 million compared to $283.7 million for the year ended December 31, 2013. Net product revenue for the fourth quarter ended December 31, 2014 was $79.8 million compared to $74.8 million for the fourth quarter ended December 31, 2013.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 29, 2015
Dendreon Corp, Substantially All Assets
Bankruptcy
November 10, 2014
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