New York – July 14, 2026 – Cooley advised Clearside Biomedical, a biopharmaceutical company focused on revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space, in connection with its Chapter 11 reorganization, culminating in the company’s emergence from bankruptcy with a recapitalized balance sheet and Steel Partners as its plan sponsor.

Clearside commenced its Chapter 11 case in November 2025 and emerged on July 14, 2026, following approval of two separate asset sales and confirmation of its plan of reorganization by the US Bankruptcy Court for the District of Delaware. Under the plan, an affiliate of Steel Partners purchased newly issued common shares representing approximately 30% of the reorganized company’s economic interest, while existing shareholders retained approximately 70%.

The Cooley team advising Clearside included Lauren Reichardt, Miriam Peguero Medrano, Mark Ballantyne, Paul Alexander and Amanda Lindner, with support from Jeremy Binstock, Jonathan Kaufman and David Dalton.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation.

Cooley has nearly 1,400 lawyers across 19 offices in the United States, Asia and Europe, and a total workforce of more than 3,000 people.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as "Cooley"). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction, and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. When advising companies, our attorney-client relationship is with the company, not with any individual. This content may have been generated with the assistance of artificial intelligence (Al) in accordance with our Al Principles, may be considered Attorney Advertising and is subject to our legal notices.