Sicel Technologies is battling an attempt by creditors to push it into involuntary bankruptcy at a court hearing this afternoon.
The Morrisville medical device company said in a statement issued late Friday that it is "vigorously contesting the involuntary petition. Meanwhile, the company's operations are continuing and several employees who had previously been furloughed have returned to work to fill customer orders."
Earlier this month the company's creditors -- five employees who claim they are owed vacation pay and unreimbursed expenses -- petitioned the federal bankruptcy court in Raleigh to have the company liquidated. They say they are owed between $1,452 and $6,115.
Sicel plans to argue against being forced into bankruptcy at a hearing this afternoon before Judge Stephani W. Humrickhouse.
Sicel sells a miniature wireless sensor that monitors the levels of radiation used to treat patients with breast and prostate cancer, enabling doctors to make sure the correct amount of radiation is being delivered to the tumor rather than to healthy tissue nearby. The company, which has raised $30 million in venture capital since being founded in 1999, ran out of cash after failing to raise new financing.
In recent weeks the company furloughed more than 50 workers.