Arch, Polaris Spring deCode from Chap. 11

1/15/10

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: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.

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