Encodia, a San Diego firm developing ProteoCode DNA‑tagged peptide protein sequencing, has ceased operations and entered an assignment for the benefit of creditors. The company, launched by veterans of next‑generation sequencing and backed by prior venture funding, is auctioning lab assets including mass spectrometers and sequencers. Encodia raised significant venture capital through a 2021 Series C but struggled to commercialize its technology. The shutdown underscores persistent execution and capital‑efficiency challenges in translating novel protein‑sequencing platforms from R&D to scalable clinical and commercial workflows.