The US Bankruptcy Court gave an order approving the sale of the certain assets of PhaseBio Pharmaceuticals, Inc. on February 2, 2023. The debtor has been authorized to sell its certain assets to ImmunoForge Co., LTD. the winning bidder at the auction, for a purchase price of $1 million in cash plus assumption of assumed liabilities and payment of cure cost. The debtor's assets include all assets related to the ELP Platform.

The buyer is represented by Eric M. Sutty of Armstrong Teasdale LLP as its legal advisor and the debtor is represented by Cullen Speckhart & Aaron Binstock of Cooley LLP as its legal advisors.