Ebb & Flow

A little more than two years after its hyped-up creation, a piece of the Franco-American venture ValiGen N.V. filed for bankruptcy protection last week, and the financial outlook for its other ventures remain uncertain.

ValiGen SA, which was developing a genotyping technology, filed for protective bankruptcy last week, giving the company six months to sort out its future. Mother company ValiGen N.V. was no longer in a position to finance the business after private placement talks fell through just after Sept. 11 last year (see BioCentury, Dec.17, 2001). ...