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Print Edition StoriesFriday, April 3, 2009
Report: Codon Devices closes doors
By Mass High Tech staff
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Biotechnology startup Codon Devices Inc., which is focused on synthetic biology, has closed its doors due to a lack of financing, according to published reports.
The company, founded by George Church of Harvard University and former MIT researcher Drew Endy who is now at Stanford University, had announced plans last June to streamline its operations — possibly including layoffs — in an effort to focus more on its “BioLogic” engineering platform.
According to the Boston Globe, Codon’s board voted to close the Cambridge-based company after it failed to raise additional funds.
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.
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.
Flagship Ventures did not return calls to confirm the report, nor did Church at Harvard.
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