NEW YORK, Oct. 7 (GenomeWeb News) - The chief technology officer of protein chip company Zyomyx denied yesterday a posting on the Alameda County Workforce Investment Board's website stating that the company will close its doors on Oct. 19, leaving 44 employees out of work.
CTO Peter Wagner said that the company was required to submit paperwork to the ACWIB because of the magnitude of layoffs that the company had undergone, but that paperwork should not be interpreted as a closure of the company.
"The company at this point is not planning to close down," Wagner said.
Dorothy Chen, the director at the Alameda County Workforce Investment Board, said that her organization had received a letter from Hayward, Calif.-based Zyomyx informing them about its closure.
By state law, all
Zyomyx announced in February that it had raised $10 million in venture capital from investors including CSFB Private Equity, Alloy Ventures, Lilly BioVentures, Hambrecht & Quist Capital Management, Mediphase, and Bio One Capital.
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Wagner said Zyomyx plans on issuing a release two to three weeks from now to inform the public about what the company's plans are.