Helicos will be able to use cash collateral, at least on an interim basis, to continue funding its operations as it navigates its way through the bankruptcy process and attempts to sell off its intellectual property, according to an order issued last month from the US Bankruptcy Court for the District of Massachusetts Eastern Division.

Helicos filed for Chapter 11 bankruptcy protection last month after the loss of a key IP suit on which it had pinned its hopes for financial recovery. A final hearing on the cash collateral motion is scheduled for Jan. 8, 2013.

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