AusculSciences Canada Inc., Bankruptcy

AusculSciences Canada Inc., the Ottawa, Ontario-based Canadian branch of a Virginia medical research services company which specializes in technologies for cardiovascular and pulmonary conditions, filed an assignment in bankruptcy on September 18, listing over $4.5 million in liabilities, including $4.2 million to AusculSciences Inc. The company was adversely affected by a lack of funding opportunities, as well as the COVID-19 pandemic which prevented it from conducting clinical trials. B. Riley Farber is the bankruptcy trustee.

By: Dina Milivojevic