DeCode Genetics Leaves Bankruptcy in the Arms of Venture Group
Biotech firm to continue research and development
January 25, 2010
DeCode Genetics, a biotech research and development company based in Iceland, has exited bankruptcy, the company said on Jan 21.
DeCode Genetics was bought by its former parent, Saga Investments, and a group that includes Polaris Ventures and ARCH Venture Partners, and the company will be led by Earl “Duke” Collier, who will serve as CEO. Kari Stefansson will serve as executive chairman and president of research.
Decode Genetics filed for Chapter 11 protection in the U.S. Bankruptcy Court in Delaware on Nov. 16, listing assets of between $50 million and $100 million and debt of $100 million to $500 million.
Judge Peter Walsh oversaw the case.
For more information on related topics, visit the following:
