Dendreon Reaches Agreements on Terms of Financial Restructuring
Under the terms of the agreements, the financial restructuring may take the form of a stand-alone recapitalization or a sale of the Company or its assets. The transactions under the agreements will enable continued delivery of PROVENGE® (sipuleucel-T) without disruption or impact to access for providers and appropriate patients in need of this revolutionary personalized immunotherapy treatment.
To implement the financial restructuring contemplated under the agreements with the relevant Senior Noteholders, Dendreon and its U.S. subsidiaries filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”) on November 10, 2014.
PHEN joined with other prostate cancer patient education and advocacy organizations in issuing this statement:
"In support of patients' needs, we have historically been strong proponents of the development and availability of all new therapies for advanced prostate cancer patients. This includes Provenge (sipuleucel-T) as the first and only FDA approved immunotherapyfor prostate cancer. We continue our support for the availability of this important treatment with confidence that it will remain available for patients based on our meeting and discussions with Dendreon.
We collectively provide this statement as a part of our responsibilities to inform our patient communities during Dendreon’s corporate financial reorganization. We will offer updates as we are made aware of them throughout the reorganization process."