This article was originally published in The Gray Sheet
Voluntary bankruptcy filing under Chapter 7 in Boston federal court, announced May 15, "will result in the complete liquidation of the company's assets," UroMed says. The firm, doing business under the name Alliant Medical Technologies, offers brachytherapy seeds and needles for prostate cancer, treatment planning software for brachytherapy and external beam radiation therapy, and the CaverMap surgical aid for prostate and colorectal cancer surgery. Revenues in 2001 reached $6.1 mil., up 41.6%. However, the firm was unable to commercialize its products successfully, generating an accumulated deficit of $117.2 mil. as of December 2001...
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