DermTech (OTC: DMTKQ) has completed its Asset Purchase Agreement with DERM-JES Holdings, , resulting in the sale of substantially all of the company's assets. The new entity, DermTech, , will continue operations as a private company, focusing on precision dermatology and non-invasive skin genomics solutions. Led by dermatologists, dermatopathologists, and experienced professionals, the company will maintain its laboratory in San Diego, CA, and continue processing orders for the DermTech Melanoma Test (DMT).
The transaction was approved by the U.S. Bankruptcy Court for the District of Delaware on August 15, 2024, under Section 363 of the U.S. Bankruptcy Code. DermTech does not expect its stockholders to receive value from the sale or the Chapter 11 process. The company will cease all operations except those related to the bankruptcy and dissolution.