'We want to make it clear that this development is not expected to have an impact on our digital medicine program. “Filing for bankruptcy protection allows Proteus to continue its sales process in a more concerted and efficient manner while continuing to run the business as usual,” the company said in a statement provided to MobiHealthNews.Ī representative from Otsuka said that the company won't be putting out any official statement on its business partner's bankruptcy, but said that delivery of Abilify M圜ite – a sensor-enabled version of Otsuka's schizophrenia drug that was developed as a result of the companies' collaboration – will not be affected. Lawrence Perkins of SierraConstellation Partners, who had previously been retained as the company's chief restructuring officer, has now been appointed by the Proteus board as its interim CEO.

In addition, Andrew Thompson has stepped back from his role as CEO. The company also reported between 200 and 999 estimated creditors, top among which were PREI's Westport Office Park (a $1.04 million unsecured claim), Romanco North America ($510,848), Otsuka America Pharmaceutical ($397,721) and Workday ($288,000). The 'smart pill' maker indicated in the filing that it has between $100 million and $500 million in estimated assets, and between $50 million and $100 million in estimated liabilities. The news comes months after word that the company had furloughed much of its staff, reassessed its high-profile partnership with Otsuka Pharmaceutical and shifted away from its primary focus area of mental disorder treatment. Proteus Digital Health, maker of an ingestible sensor for tracking medication adherence, filed for Chapter 11 bankruptcy protection yesterday.

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