Luna Innovations files for bankruptcy protection

Facing a jury award of more than $36 million, Roanoke, VA-based Luna Innovations filed for bankruptcy protection today. The company is engaged in developing nanomedicines as well as sensing and instrumentation technology. "The jury verdict in our dispute with Hansen Medical in April obviously presented a very serious potential negative outcome for Luna as well as its creditors, shareholders and other stakeholders," said Kent Murphy, chairman and chief executive officer. "In the absence of reasonable settlement of that dispute, we believe that today's filing is in the best interests of Luna and our shareholders, creditors and communities, while providing the first step toward securing a future for Luna." Luna release