UBiome circles the drain

Speaking of software’s digestive cycle, one biotech company backed by tech VCs is that much closer to excrement. UBiome, which once sold health tests based on fecal samples, has filed for bankruptcy after accusations of improper billing, some executive turnover, and large-scale layoffs.

The idea is to “facilitate an orderly and efficient sale” of what remains of the company, uBiome said in a statement. The company expects to find a buyer within about 75 days. UBiome’s most recent private valuation was around $600 million, a figure tabulated before the company got raided by the FBI and suspended all of its clinical operations.

UBiome’s investor syndicate included 8VC and Andreessen Horowitz, two Silicon Valley tech VCs making inroads into biotech.