Gritstone bio, Inc., a clinical-stage biotechnology company headquartered in Emeryville, California, filed Chapter 11 on October 10, 2024 in Delaware (Case No. 24-12305, Judge Karen B. Owens) after Phase 2 colorectal cancer vaccine data fell short of success thresholds and cash reserves depleted. The company, which raised $93 million in a 2018 IPO and developed the proprietary EDGE artificial intelligence platform for neoantigen prediction, carried estimated assets and liabilities each between $100 million and $500 million. Gritstone obtained $25 million in DIP financing and executed a 363 sale process that generated approximately $26 million in aggregate proceeds, with Seattle Project Corp. acquiring substantially all assets for $21.25 million. The liquidating plan was confirmed on April 3, 2025, establishing a liquidating trust to administer remaining assets and pursue litigation recoveries for general unsecured creditors estimated to receive approximately 5.2% in cash distributions.
