Chilion Group Holdings US, Inc. entered into an asset purchase agreement to acquire Assets from INSYS Therapeutics, Inc. (OTCPK:INSY.Q) for $12.2 million on August 6, 2019. As on October 23, 2019, the INSYS Therapeutics entered into first amendment with Chilion Group. Pursuant to Section 363, Chilion will acquire the CBD formulations across current pre-clinical, clinical, third-party grants and investigator initiated study activities (including any future activities or indications), THC programs of SYNDROS® oral dronabinol solution and Buprenorphine products and related equipment and other assets, in consideration for a purchase price of $12.2 million in cash that is payable at the closing of the transaction. Pursuant to the first amendment, Insys agreed to sell CBD formulations across current pre-clinical, clinical, third-party grants and investigator initiated study activities, THC programs of SYNDROS oral dronabinol solution and Buprenorphine products, and related equipment and other assets, in consideration for a purchase price of $12.3 million in cash. Chilion also agreed to be responsible for all cure costs and for certain other specified liabilities. The cure amounts, as determined by the Bankruptcy Court, Chilion shall bear the cost of any filing fee payable to a Governmental entity. Pursuant to the terms of the escrow agreement, Chilion has deposited the sum of $1 million by wire transfer of immediately available funds. Chilion shall pay to INSYS at the closing an amount in cash equal to the purchase price less the escrowed funds. In a related transaction, Hikma Pharmaceuticals agreed to acquire naloxone nasal spray, epinephrine, nasal spray products, related equipment and other assets from INSYS Therapeutics on August 5, 2019. The transaction is subject to approval by the Bankruptcy Court and provides for customary closing conditions, including entry and effectiveness of the sale order of the Bankruptcy Court authorizing and approving the transaction, and delivery of certain transfer letters to the U.S. Food and Drug Administration and regulatory approval. Transaction is subject to approval of the HSR Act or any other Antitrust Laws. On August 23, 2019, the Bankruptcy Court approved the transaction. The transaction is expected to close in September 2019. As on October 25, 2019, the transaction is expected to close no later than October 31, 2019. The Chilion purchase agreement also provides for customary termination rights. Gary T. Holtzer ,Frederick S. Green, Brenda L. Funk and Ronit Berkovich of Weil, Gotshal & Manges LLP acted as legal advisors to INSYS Therapeutics, Inc. and Paul N. Heath Richards and Zachary Shapiro of Layton & Finger, P.A. acted as the joint administrators to INSYS. John Willding of Barnes & Thornburg LLP acted as legal advisor to Chilion Group Holdings US, Inc. Lazard Ltd (NYSE:LAZ) acted as financial advisor to INSYS Therapeutics, Inc. (OTCPK:INSY.Q) in the transaction. Chilion Group Holdings US, Inc. completed the acquisition of Assets from INSYS Therapeutics, Inc. (OTCPK:INSY.Q) on October 31, 2019.