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 Ji Xing Pharmaceuticals Hong Kong Limited the winning bidder at the auction, for a purchase price of $0.40 million in cash plus assumption of assumed liabilities and payment of cure cost. The debtor's assets include all assets related to PB6440 and PB6395.

The buyer is represented by Barry Z. Bazian; Alexander J. Nicas; Mayan Katz of Goodwin Procter LLP as its legal advisors and the debtor is represented by Cullen Speckhart & Aaron Binstock of Cooley LLP as its legal advisors.