In a dramatic turn for the embattled biotech sector, Accelerate Diagnostics, Inc. has voluntarily filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware, aiming to reorganize and sell off its assets under the court’s supervision. The move places the once-promising diagnostics innovator at the center of a high-stakes restructuring saga that could reshape its future—or end it entirely.
A $12.5M Lifeline to Keep the Lights On
As part of its initial Chapter 11 filings, the Tucson, Arizona-based company submitted a slate of “first day” motions, requesting judicial approval to maintain normal business operations during the proceedings. This includes authorization to access up to $12.5 million in debtor-in-possession (DIP) financing, a crucial infusion that will allow Accelerate to pay employees, support vendors, and serve customers as the sale process unfolds.
Pending court approval, the DIP financing facility will provide the necessary fuel for the company to run its engines during what is expected to be a turbulent but controlled descent.
