Dynogen: The 2009 Biotech Graveyard

Company: Dynogen
Based: Waltham, MA

What went wrong: Dynogen, which had been developing treatments for irritable bowel syndrome and other digestive disorders, raised a total of $67 million during its six-year run. But it lead product was taking too long to develop and the economic crisis caught up to the company, contributing to its demise. Dynogen filed for Chapter 7 bankruptcy in February.