NEW YORK (GenomeWeb News) – Codon Devices is reportedly shutting down its operations, according to an article posted on website of The Boston Globe on Friday.
Calls to Codon were not returned to GenomeWeb Daily News to confirm the report.
The Cambridge, Mass.-based firm markets its synthetic biology products and design services, including its BioFab production platform, to clients in the pharmaceutical, biotechnology, institutional, and bioenergy fields. The BioFab platform combines informatics and proprietary algorithms, automated technology, and biochemical protocols for use in designing and building genetic sequences.
Codon raised $11 million in a round of private financing last year through some well-known life science venture capital firms including Alloy Ventures, Flagship Ventures, Highland Capital Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, and Tactics II Ventures. The company had raised $20 million in December 2006.
According to the Globe article, Codon's board decided last week to shut down operations after the firm failed to raise additional funds.