- deCODE Genetics, the Icelandic genomics company that declared bankruptcy in November, has made a comeback. Today it has reappeared as "the New deCODE," a renamed version of the craft heart of the previous deCODE built on mining the DNA of the Icelandic population for disease genes. The founder of deCODE neuroscientist Kari Stefansson, is to remain as co-lead manager.
during the last decade deCODE genetics Inc. has not turned a profit, but it has scientific sensation by finding the risk of disease markers using a genetic database, medical and genealogical about 140,000 Icelanders. last week, a court in Delaware bankruptcy approved the sale of the subsidiary of deCODE Inc. Islensk Erfdagreining, who runs the biobank Saga Investments LLC. Saga's investors include two companies that have invested in the original deCODE and Illumina, corporate sequencing machines in San Diego, Calif. the CEO of the new private company called deCODE genetics ehf Earl "Duke" Collier, a former executive vice president at Genzyme; Stefansson will be executive chairman and president of research. The parent company is still selling out discovery and drug development components of deCODE Genetics Inc., Stefansson said.
The new deCODE will always focus on human genetics, including the sale of diagnostic tests and personal genome analysis service, deCODEme. "The plan is to continue to lead the world in terms of human genetics," said Stefansson. It will partner with pharmaceutical companies instead of developing its own drugs of its gene discovery, Collier said. Stefansson said it does not raise privacy concerns because data confidentiality and ethics laws in Iceland deCODE will "to work on problems" for business. "We can not give people a unlimited data access, "said Stefansson.
to deepen its research disease genes, the company plans to begin sequencing the entire genome of 2,500 DNA samples from its database. It will not be necessary to recontact these people to consent because their original consent agreements cover the whole genome sequencing, Stefansson said.
Stefansson rejected claims by dissatisfied investors that he and Collier, a former member of the board of the old deCODE, helped engineer the sale to Saga to advance their own interests. This argument is made in a complaint filed in Delaware court in December by creditors that burden Stefansson, Collier, and others discouraged other parties to bid for the company and "maybe collude to create an agreement that will guarantee their profit more ... free entitlements [deCODE's] unsecured creditors of the debtor. " the bankruptcy judge in Delaware approved the deal, Stefansson points out, and "everything was done according to law."
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