Life Sciences, bankruptcy, Drugs
Dynogen Pharma Files for Bankruptcy
Ryan McBride 2/24/09
Waltham, MA-based drug developer Dynogen Pharmaceuticals has filed for bankruptcy protection this week under the weight of $10.6 million in liabilities, the Boston Business Journal reported this morning. Dynogen, a developer of drugs for irritable bowel syndrome and other gastrointestinal disorders, raised some $67 million over the past six years from Boston-area investors such as HealthCare Ventures, Oxford Bioscience Partners, SV Life Sciences, and Abingworth Management. Last April market conditions sank Dynogen’s plans to go public in a reverse merger with California’s Apex Bioventures (AMEX:PEX).
Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.
