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Debt-laden French biotech start-up Deinove has begun proceedings to place it into financial receivership—a step toward disbanding. Deinove has 6 weeks from November before the commercial court of Montpellier, France, will determine whether new investors can be brought in and Deinove’s debts paid or if the company is to close. Trading of its shares on the Paris Euronext stock market were suspended on Oct. 28. Deinove has been developing biofuels, carotenoids, and antibiotics from Deinococcus bacteria.
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