Codiak BioSciences, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on April 7, 2023. The debtor seeks the Court’s approval for the sale of substantially all its assets to the successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by May 17, 2023, along with good-faith deposit in the amount of 10% of the bid price.

The debtor has scheduled an auction on May 23, 2023. At the auction, the subsequent bids would be in increments of $0.1 million. The sale hearing is scheduled for May 26, 2023.