Venture Wire reports today that a Delaware bankruptcy court has approved the sale of Iceland-based genomics firm deCode Genetics to Arch Venture Partners and Polaris Venture Partners, both of which are previous investors in the company. Waltham, MA-based Polaris and ARCH, which has operations in Boston and Seattle, are paying $14 million for the deCode assets, the report says. DeCode (NASDAQ:[[ticker:DCGN]]) filed for Chapter 11 bankruptcy protection in November. Bob Nelsen, a managing director at Arch, wrote in an e-mail that he would talk about the deal next week, when the deal is expected to be formally announced.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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