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The recently shuttered Nabsys has been bought by its former CEO Barrett Bready, GoLocalProv reports.

The single-molecule DNA mapping firm spun out from Brown University in 2004, and was financed with a mix of venture capital and government grants. It raised some $41 million in private equity alone in a four-year span, as GenomeWeb has reported.

When it closed in September, GoLocalProv notes that Nabsys left its investors — including ones with ties to the State of Rhode Island — with large losses.

Now, according to GoLocalProv, Bready purchased the company for $500,000 and the assumption of $100,000 in debt. Bready had been replaced as the company's CEO last year by Steve Lombardi, the former CEO of Real Time Genomics and Helicos BioSciences, as the company turned toward cancer research.

The news site adds that Bready will operate the company under the name Nabsys 2.0.