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Codiak BioSciences to File for Chapter 11

Most of the company's executive management team will be departing.

Codiak BioSciences, Inc., a clinical-stage biopharmaceutical company pioneering the development of exosome-based therapeutics as a new class of medicines, has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets which is intended to maximize the value of the company. The company began a marketing process ahead of the Chapter 11 filing to determine t...

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