Solar Biotech, Inc., a synthetic biology and biomanufacturing company founded in 2019 and headquartered in Norton, Virginia, filed for Chapter 11 protection along with subsidiary Noblegen, Inc. on June 23, 2024 in the District of Delaware (Case No. 24-11402) before Judge Laurie Selber Silverstein. The company provides technology development services to scale biotech designs into commercial bioproducts for wellness, nutrition, and beauty applications. The debtors faced cash flow challenges following the loss of a major customer and difficult capital market conditions. Prepetition secured debt of approximately $10 million was held primarily by Ingredion (majority investor). Postpetition, the company obtained $3.4 million in new money DIP financing with 10% interest rate (12% default) and rolled up $10 million in prepetition secured debt. Pictor Biotech (led by ex-Novozymes executive Peter Rosholm) won a Section 363 asset auction with a $20 million bid on September 6, 2024, outbidding Ingredion's stalking horse bid of $15.2 million. The First Amended Combined Plan of Liquidation was confirmed on September 10, 2025, with Class 1 secured creditors (Ingredion) receiving 88% recovery, Class 2 priority creditors 100%, and Class 3 general unsecured creditors 5%. The plan became effective September 30, 2025.