News Article

Medical Supplier LaamScience Dissolves After $361K Loan From Biotech Center
Date: Aug 12, 2013
Source: Device Space ( click here to go to the source)

Featured firm in this article: LaamScience Inc of Morrisville, NC

LaamScience, a small Morrisville company that developed antiviral and antimicrobial fabrics, is shutting down in bankruptcy amid $1.16 million in debts to the N.C. Biotechnology Center and others. The company reported just $151,000 in assets Thursday afternoon on its Chapter 7 filing. It reported $450,000 in prioritized debts, mostly to executive Josef Schneider and another employee, meaning that the Biotech Center isn't likely to recoup much of its unsecured $361,000 loan.