Thursday, June 12, 2008

Codon Devices plans ‘streamlined’ operations

By Mass High Tech Staff

Codon Devices Inc., a maker of synthetic, biological materials, plans to adjust its business to focus more on its “BioLogic” engineering platform, and it could mean layoffs, according to the company and published reports.

The Cambridge-based firm said that it has “streamlined” operations to put more emphasis on the BioLogic business, and two members of the firm’s scientific advisory board told tech blog Xconomy that this meant the firm had let go an unspecified number of workers. Codon officials were not immediately available Thursday morning.

Codon has leveraged its BioLogic technology in deals with Cambridge biotech firm Merrimack Pharmaceuticals Inc. and agricultural biotech company Agrivida Inc. of Medford. In both cases, the Codon technology enables the construction of novel proteins used to manufacture products for Merrimack and Agrivida. In addition to the BioLogic technology, Codon said it will focus resources on its “BioFab” platform, which it uses to engineer molecules of DNA with customized lengths and genetic sequences for its customers.

Codon has raised $44 million in venture capital from such VC firms as Cambridge-based Flagship Ventures; Highland Capital Partners, which has a Boston office; as well as Kleiner Perkins Caufield & Byers, Khosla Ventures and Alloy Ventures, all three of which are based in California.