Alizyme: The 2009 Biotech Graveyard

Company: Alizyme
Based: UK

What happened: A last-ditch effort to raise additional fund was unsuccessful and in late July the company began the liquidation process. According to its web site, Alizyme portfolio includes one drug candidate--COLAL-PRED for ulcerative colitis--that has completed a Phase III clinical trial, and another candidate with Phase II proof of concept data. Alizyme's largest product, weight-loss and diabetes drug Cetilistat, was sold off to Norgine BV, allowing investors in the company to receive a small payout.