Jeremiah P. Ledwidge

The Chapter 11 plan of PhaseBio Pharmaceuticals, a long-standing Cooley life sciences client, has gone effective following the court’s confirmation of the Chapter 11 plan on June 26, 2024. The plan provides for a global settlement with the official committee of unsecured creditors and a settlement with PhaseBio’s former co-development partner. The Chapter 11 bankruptcy case in the US Bankruptcy Court for the District of Delaware was handled by a multioffice, cross-disciplinary Cooley team.

Cooley advised long-time biotech client, Gamida Cell Ltd., and its wholly-owned subsidiary, Gamida Cell Inc. (collectively, the “Company”), in the Company’s global restructuring through a novel use of debt arrangement proceedings in Israel combined with Chapter 15 and 11 proceedings in the United States. 

Cooley has been representing the Official Committee of Unsecured Creditors of Mallinckrodt during Mallinckrodt’s ongoing bankruptcy proceedings, in which the pharmaceutical company’s Chapter 11 plan of reorganization was recently confirmed after a contentious multiweek trial, marking a defining moment in the case. Cooley partners Cullen Speckhart, Ian Shapiro, Philip Bowman, Michael Klein, Cathy Hershcopf and Jonathan Kim led the team advising the Official Committee of Unsecured Creditors.