A 99%-off sale at uBiome
UBiome, the microbiome-testing startup once valued at $600 million, is in the process of selling its last remaining assets for just $7 million.
As STAT’s Erin Brodwin reports, a DNA testing company called Psomagen has signed a preliminary deal to buy uBiome’s patent portfolio and related intellectual property. The transaction is awaiting the approval of a bankruptcy judge.
Way back in early 2019, uBiome was a buzzy Silicon Valley company promising unprecedented insights into human health by analyzing stool. Then, in April, the FBI raided its offices and the co-CEOs resigned. UBiome filed for bankruptcy in October.
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As STAT’s Erin Brodwin reports, a DNA testing company called Psomagen has signed a preliminary deal to buy uBiome’s patent portfolio and related intellectual property. The transaction is awaiting the approval of a bankruptcy judge.
Way back in early 2019, uBiome was a buzzy Silicon Valley company promising unprecedented insights into human health by analyzing stool. Then, in April, the FBI raided its offices and the co-CEOs resigned. UBiome filed for bankruptcy in October.
Read more.
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