Hawaii company conducting clinical trials to produce vaccines to be sold at auction

Hawaii Biotech to be sold at auction

HONOLULU — A Hawaii company conducting clinical trials to produce vaccines for dengue fever and the West Nile virus will be sold at auction.

U.S. Bankruptcy Court Judge Robert Faris on Monday scheduled the auction for July 19. Bidders must submit their qualifications to the court by July 12.

Hawaii Biotech CEO Elliot Parks says there are “a number of potential investors who can keep the company moving forward.”

Hawaii Biotech filed for Chapter 11 bankruptcy protection in December.

Parks says the company is funding its operations with a $2 million line of credit that is expected to be exhausted by the end of July.

Information from: Honolulu Star-Advertiser, www.staradvertiser.com