The US Bankruptcy Court gave an order approving the sale of substantially all the assets of PhaseRx, Inc. on February 1, 2018. The debtor has been authorized to sell its substantially all assets to Roivant Sciences GmbH, the winning bidder at the auction, for a purchase price of $0.8 million in cash plus some promissory notes and assumption of assumed liabilities pursuant to agreement dated January 31, 2018. At the auction held, Roivant Sciences GmbH emerged as the winning bidder by offering a purchase price of $0.8 million. The buyer has deposit a good faith amount of $0.05 million into escrow account. Cooley LLP acted as advisor to buyer.