The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of MabVax Therapeutics Holdings, Inc. on April 8, 2019. The Court approved the asset purchase agreement between the debtor and BioNTech research and development, Inc., the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $3.70 million in cash. To qualify as a qualified bidder, interested parties should submit their bids by April 26, 2019, along with good-faith deposit in the amount of $0.37 million or 10% of the bid price. The initial minimum overbid should be in the amount of at least $4.24 million more than the combined amount of the purchase price provided for in stalking horse in Asset purchase agreement. The debtor has scheduled an auction on May 1, 2019. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $0.19 million and expense reimbursement of $0.1 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for May 6, 2019.