LC Therapeutics 2021
Hilco Streambank’s Role
Vice Chancellor Donald F. Parsons, Jr. (ret.), as Receiver, retained Hilco Streambank to market and sell the intellectual property assets of LC Therapeutics (the “Company”). The Company is a medical device firm specializing in surgical treatments for mitral regurgitation (MR) and atrial fibrillation (AF). It had approximately 22 patents and patent applications containing key patents for devices and techniques for treating MR and AF conditions.
Hilco Streambank Closed the Deal
Hilco Streambank ran an extensive marketing and sale process for the patent portfolio, in which it identified and qualified 4 bidders. Based on our recommendation, the Receiver conducted a best and final sealed bid round, which resulted in the designation of one of the co-founders of the Company as the successful bidder, comprised of a cash component and a credit bid. In March, 2020, the Receiver closed on a sale of the patents.