Biotech — sector dashboard · fobi

Sign in Sign up free

Graveyard

Synthego
Synthego grew rapidly as a CRISPR reagent and services supplier but its heavy investment in automation, technology and operations consistently outpaced revenue, creating mounting liquidity pressure. On May 5, 2025 the company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, with a plan to sell substantially all of its assets to its lead creditor. Funds managed by Perceptive Advisors provided debtor-in-possession financing and agreed to a credit-bid acquisition; Perceptive Credit Holdings exchanged as much as $85 million in debt for ownership. The acquisition closed on July 18, 2025, ending Synthego's existence as an independent company though the business continued under Perceptive's ownership.
Obituary
Amyris
Amyris pivoted from biofuels to fermentation-derived ingredients and then to owning a portfolio of clean-beauty brands, but the marketing and operating spend required to scale brands like Biossance, JVN Hair and Rose Inc consistently outran revenue and saddled the company with heavy debt. In February 2023 it sold its squalane and Hemisqualane ingredient portfolio to Givaudan to raise cash. On August 9, 2023 Amyris and several subsidiaries filed for Chapter 11 bankruptcy in Delaware, with additional debtors added on August 21, 2023, and announced it would exit and sell its consumer brands. Through the proceeding the beauty brands and other assets were divested to new owners, ending Amyris as an independent operating company.
Obituary
Zymergen
After a $500 million April 2021 IPO at roughly a $3 billion valuation, Zymergen disclosed in August 2021 that its flagship bio-electronics film Hyaline had failed to win customers and that 2021 product revenue would be negligible, sending the stock down more than 70% and prompting the resignation of CEO Josh Hoffman. With no viable hero product and mounting losses, Zymergen agreed in July 2022 to an all-stock acquisition by Ginkgo Bioworks valued at about $300 million. Ginkgo absorbed Zymergen's people and platform; the standalone Zymergen entity subsequently filed for Chapter 11 bankruptcy in October 2023 and announced liquidation in early 2024, ending the brand.
Obituary