Achaogen, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on December 29, 2019. The debtor seeks the Court’s approval for the sale of its certain assets to Xuanzhu (HK) Biopharmaceutical Limited, for a purchase price of $4.5 million and assumed liabilities pursuant to the asset purchase agreement, dated December 29, 2019. The debtor’s assets include all of the properties and assets of China Plazomicin Business. Xuanzhu has deposited $2 million as good faith deposit. In the event of termination of this agreement seller shall return the deposit to the purchaser and shall pay an expense reimbursement in the amount not exceeding $0.23 million plus a termination fee of 0.14 million. Pryor Cashman LLP has been appointed as legal advisor to the buyer. The proceeds of the sale shall be applied in accordance with the Final DIP Order. The sale hearing shall be scheduled for January 9, 2020. The sale closing shall be occurred on or before January 10, 2020.