Red Queen Therapeutics, Inc., biotech research company, filed for bankruptcy as it works to restructure its debts. The Massachusetts-based company was co-founded by Apple Tree Partners, a life sciences venture firm. Earlier, Apple Tree Partners and several of its affiliates also filed for voluntary bankruptcy.
Red Queen Therapeutics, Inc. Files for Voluntary Chapter 11
Red Queen Therapeutics, Inc. entered into a voluntary Chapter 11 bankruptcy process on December 15, latest Pacer data says. The petition was submitted in the U.S. Bankruptcy Court for the District of Delaware.
Attorneys L. Katherine Good and Ethan H. Sulik of Potter Anderson & Corroon LLP are representing Red Queen Therapeutics in the bankruptcy case.
Red Queen’s filing comes after Apple Tree Partners filed for voluntary bankruptcy on December 9. Certain affiliates of the 25-year-old life sciences venture firm also sought bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
Apple Tree Partners’ decision is driven towards a restructuring plan that ensures its portfolio companies (which also includes Red Queen Therapeutics, Inc.) have adequate funding and resources to carry out their treatment services. These include the development of novel procedures for treating cancer, infectious diseases, neurological disorders, and more.
About the Company
Co-founded by Apple Tree Partners (ATP), Red Queen Therapeutics is a biotech firm developing treatments for viruses. Based in Massachusetts, the company develops treatments for viruses, including COVID-19 and influenza.
Co-founded by biomedical researcher Loren Walensky, M.D., Ph.D., the company also develops treatment solutions for existing and emerging pathogens. The biotechnology research company uses its proprietary stapled lipopeptide technology for treating the viruses.
Proceedings So Far
The Chapter 11 filing shows Red Queen Therapeutics owes about 49 unsecured creditors. Judge Laurie Selber Silverstein is in charge of the biotech research company’s case in the bankruptcy court. Mark Mitchnick, the CEO of Red Queen Therapeutics, Inc. signed the petition before it was submitted yesterday.
Here are key details from the filing:
- Filing Date: December 15, 2025
- Court and Jurisdiction: U.S. Bankruptcy Court from the District of Delaware
- Type of Filing: Active, Voluntary Petition
- Chapter: 11
- Case Number: 1:25-bk-12204
- Estimated Assets: $10,000,001 to $50 million
- Estimated Liabilities: $1,000,001 to $10 million
- Reason for Filing: Readjust debts while its co-founder, Apple Tree Partners, prepares a restructuring plan
Attorney Ethan H. Sulik submitted a motion for joint administration on December 15 on behalf of Red Queen Therapeutics, Inc. and affiliates of Apple Tree Partners. The affiliates include ATP III GP, Ltd., ATP Life Science Ventures, L.P., Apertor Pharmaceuticals, Inc., Apple Tree Life Sciences, Inc., Initial Therapeutics, Inc., and Marlinspike Therapeutics, Inc.
Red Queen Therapeutics, Inc. submitted a corporate ownership statement on December 15.
Red Queen’s future now depends on the outcome of the Chapter 11 proceedings and Apple Tree Partners’ restructuring efforts.
