Ru­bius fails to find al­ter­na­tive as board ap­proves dis­so­lu­tion

Ru­bius Ther­a­peu­tics’ strug­gles will come to an end in the near fu­ture as the com­pa­ny’s board ap­proved a plan of liq­ui­da­tion and dis­so­lu­tion of the one-time spot­light at biotech in­cu­ba­tor Flag­ship Pi­o­neer­ing.

The biotech said its board ap­proved the plan on Pres­i­dents’ Day, with a spe­cial meet­ing of Ru­bius’ stock­hold­ers be­ing lined up to seek a green light, per an SEC fil­ing Wednes­day morn­ing.

Ru­bius set out to turn red blood cells in­to cell ther­a­pies, tam­per­ing with the oxy­gen car­ri­ers via ge­net­ic en­gi­neer­ing to car­ry pro­teins in a bat­tle against var­i­ous dis­eases. The goal was to make them off-the-shelf as well, mean­ing the ther­a­pies would come from the cells of oth­er pa­tients, re­duc­ing time to man­u­fac­ture and trans­port them as com­pared to the cell ther­a­pies al­ready on the mar­ket.

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