Victory Pharma, Middlebrook Pharmaceuticals sign asset purchase agreement

MiddleBrook Pharmaceuticals, Inc. (Pink Sheets: MBRKQ) ("MiddleBrook" or the "Company") has entered into an asset purchase agreement with Victory Pharma, Inc. for the sale of substantially all of its assets, and assumption of trade sales and certain other liabilities, of the Company for approximately $17.1 million (the "Acquisition").

The Acquisition is subject to customary closing conditions, a competitive auction process supervised by the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") in which MiddleBrook will seek competing bids to obtain the best offer possible for its assets, and approval of the Bankruptcy Court.

“During the Bankruptcy Court supervised process, we remain committed to continuing to promote MOXATAG® utilizing our third party partner's electronic promotion program and maintaining MOXATAG and KEFLEX® product availability to our trade sales customers”

"During the Bankruptcy Court supervised process, we remain committed to continuing to promote MOXATAG^® utilizing our third party partner's electronic promotion program and maintaining MOXATAG and KEFLEX^® product availability to our trade sales customers," said David Becker, MiddleBrook Executive Vice President and Chief Financial Officer, and Acting President and Chief Executive Officer.