The US Bankruptcy Court gave an order approving the sale of the certain assets of Zosano Pharma Corporation on August 8, 2022. The debtor has been authorized to sell its certain assets to Emergex USA Corporation for a consideration consisting of $1 million in cash plus reimbursement by buyer of up to $0.25 million pursuant to the asset purchase agreement dated August 3, 2022. The debtor's assets include all equipment owned by the seller, all inventory, all intellectual property, all furniture and fixtures, certain of the Seller's valid insurance policies, the Seller's books and records solely to the extent they relate to the acquired assets and all claims and causes of action of seller solely to the extent they relate directly to the acquired assets.

The buyer is represented by Erica J. Richards of Cooley LLP as its legal advisor.