Monday, December 7, 2009
Despite being in the vanguard of the genomics revolution, deCode Genetics Inc. struggled to take up the drug development mantle as
others have done. Now, having raised just over $1.1 billion from the sale of
equity and debt and from partnerships since its inception in 1996, the rump of
the bankrupt company's assets are about to be sold into a new company for as
little as $14 million.
The genomics companies founded
in the 1990s all were able to raise substantial sums of money during the
genomics bubble, both from partnerships and from the equity markets. But from
there their paths diverged.