News

September 2009

OPK Biotech acquired the former Biopure Corporation, developer and manufacturer of two unique oxygen therapeutics, and all of its assets, including intellectual properties and facilities.  OPK Biotech will be headquartered and will continue to operate the manufacturing facility in Cambridge, Massachusetts.

In addition to buying all of Biopure’s assets for $4.05 million at auction, OPK also agreed to acquire Biopure’s 50 percent stake in a partnership that owns the company’s headquarters and some laboratory space. That transaction will cost OPK $850,000.

Biopure Corporation had filed for bankruptcy in July of 2009 after numerous regulatory setbacks in recent years.  Stockholders are not expected to receive any substantial distributions from the purchase.