Infinity is on a liquidation track, with the debtors having filed a joint Chapter 11 liquidation plan to wind down and distribute remaining estate value rather than reorganize around an operating business through the Joint Plan of LiquidationDkt. 173.
The case began on September 29, 2023, when Infinity Pharmaceuticals and affiliate Infinity Discovery filed Chapter 11 after an unsuccessful MEI Pharma merger left the company without the funding needed to continue developing eganelisib, its remaining oncology program. In the first-day declaration, the debtors described a prepetition wind-down already underway: a 78% workforce reduction, a smaller board, only three employees retained by the petition date, approximately $4.6 million of cash, no funded debt or liens, and a business objective centered on monetizing eganelisib-related intellectual property, defining liabilities, and preserving estate resources through a plan process First Day DeclarationDkt. 2.
Infinity had already tested the market before filing. SSG Capital Advisors contacted 379 potential purchasers across strategic, venture-capital, and investment channels; eleven parties signed confidentiality agreements, but no actionable prepetition offer emerged. The Chapter 11 cases therefore opened as a controlled sale-and-liquidation process rather than a rescue financing case, with the debtors proposing bid procedures, a December 2023 bid deadline and auction, and a sale hearing timetable for the remaining assets First Day DeclarationDkt. 2.
The current path is estate administration under the January 2024 liquidation plan. The context pack does not show a confirmation order, effective date, or upcoming hearing, so the live posture is best read as a mature liquidation case awaiting or proceeding through plan-related milestones on the available docket record, with unsecured claims shown at roughly $4.65 million across 20 filed claims.
