Movers & Shakers: Jul 29, 2011
Glenn Barney, Dario Alessi, Philip Cohen, Stephane Bancel, Noubar Afeyan
Avantra was founded last year by Courtagen Capital Group to commercialize the assets of Decision Biomarkers, a protein biomarker technology firm that shuttered its business and filed for Chapter 7 bankruptcy in December 2009.
Avantra to Close on $7M Funding Round; Plans to Roll Out Biomarker-Detection Platform in Early 2011
The company is being launched by Courtagen Capital Group using assets from defunct biotech firm Decision Biomarkers, which Courtagen purchased in bankruptcy court last December.
The demise of Perlegen Sciences and Decision Biomarkers adds two more names to a growing list of array-related firms and businesses that have gone belly up or have been shuttered in the past few years.
The company, formed in 2003, had raised at least $15.1 million in financing in its history, but in its bankruptcy filing said that its liabilities were at least 20 times that of its assets.