Biotech Firm Synthego Corp. Files for Chapter 11 Bankruptcy with Proposed Asset Sale

California-based biotechnology enterprise, Synthego Corp., has entered Chapter 11 bankruptcy proceedings in a Delaware court. According to company documents, Synthego, known for its work in gene editing technologies, is facing debts amounting to as much as $500 million. As part of its reorganization strategy, the company has proposed a sale of its assets during the bankruptcy process.