Bankruptcy
As part of a portfolio update, Altas Ventures noted that Raze Therapeutics, a biotech launched in 2014, has closed its doors.
Dart will close its doors on Feb. 9 due to poor progress on its therapeutic goals and little return on hundreds of millions of dollars in R&D.
The company indicates it plans to continue to manage and operate under the bankruptcy filing while it works with Cowen and Company to develop a plan forward.
The company’s demise was explained in a blog post by Atlas Venture partner Bruce Booth.
Nearly four months after issuing a voluntary recall of all lots of unexpired sterile drug products, Cantrell Drug Company has filed for bankruptcy.
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