Proteus Digital Health filed for Chapter 11 bankruptcy protection June 15, 2020. The organization develops ingestible sensors for tracking medication adherence. The news comes months after word that the company had furloughed much of its staff, reassessed its partnership with Otsuka Pharmaceutical, and shifted away from its primary focus area of mental disorder treatment.
The organization 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 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).
Proteus Digital Health, Inc., is a digital medicine pharmaceutical company. The organizations’ digital medicine offerings measure medication treatment effectiveness and helps physicians improve clinical outcomes.
This was reported by Mobi Health News on June 16, 2020.