DeCODE files for Ch. 11 bankruptcy

Icelandic genomics pioneer deCODE Genetics has filed for bankruptcy protection, listing assets close to $70 million and debt of more than $313 million. But it filed papers in court outlining a deal to sell its Icelandic subsidiary to Saga, which is backed by Polaris Venture Partners and Arch Venture Partners, two well known venture groups active in the drug development business. Report