Cleveland HeartLab, Inc. agreed to acquire operational assets from Diadexus, Inc. (OTCPK:DDXS.Q) for $7 million on July 6, 2016. Cleveland HeartLab, Inc. entered into asset purchase agreement to acquire operational assets from Diadexus, Inc. on July 13, 2016. As per terms, purchase price is $7.02 million which is comprised of $6.7 million to be satisfied in the form of credit secured under the loan and security agreement dated as of August 15, 2014 and $0.33 million in cash and the assumed liabilities. Upon or prior to the execution and delivery of the agreement, Cleveland HeartLab shall deposit $0.34 million as the funds deposited into the escrow account as the good faith deposit. If the agreement is terminated Diadexu shall pay in cash a break-up fee equal to 2% of the purchase price (approximately $0.14 million) and expenses reimbursement up to a maximum of $0.1 million. The agreement can be terminated if the closing does not occur by July 18, 2016. The transaction is subject to approval of bankruptcy court. Jennifer C. Hayes of Dentons US LLP acted as legal advisor to bankruptcy trusty, Barry Milgrom. Robert L. Eisenbach, III of Cooley LLP acted as legal advisor to Diadexus. John Saada of Jones Day acted as legal advisor to Cleveland HeartLab.