The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Aradigm Corporation on March 9, 2020. The Court approved the asset purchase agreement between the debtor and Grifols, S.A. for the sale of substantially all its assets for a purchase price of $3.25 million. To qualify as a qualified bidder, interested parties should submit their bids by March 20, 2020, along with a deposit of 10% of the bid amount. If the debtor receives any qualified bids then it would hold an auction for its assets on March 25, 2020. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would not be entitled to any break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for March 27, 2020.