Egenix Inc., a New York-based pharmaceutical company, will enter a bankruptcy court-supervised auction with a nearly $4 million offer from two board members already on the table, Dow Jones Daily Bankruptcy Review reported today. Following a hearing on Friday, Bankruptcy Judge Brendan Shannon approved a streamlined sale process for Egenix's intellectual-property assets. Those assets will hit the auction block in July, with the $3.9 million offer from Denan Inc. setting a floor price.
