The company that launched a tourist submarine that imploded last month, killing five people, has suspended its commercial and exploration missions, it announced Thursday.

A short announcement on OceanGate's website confirmed the suspension, weeks after the Titan submarine imploded in the Atlantic Ocean. The submarine was taking five passengers to see the remains of the Titanic, located roughly 370 miles south of Newfoundland, Canada. The shipwreck is about 2.4 miles below the surface of the water.

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The submersible was designed and built by OceanGate for "site survey and inspection, research and data collection, film and media production, and deep sea testing of hardware and software," according to the company. But while it has been touted as a state-of-the-art machine, experts and observers expressed concerns in the past about several technical features.

The company, founded in 2009, offered tourists the chance to travel deep underwater to see shipwrecks and underwater canyons. It had completed more than 200 dives in the Atlantic and Pacific oceans before the submarine went missing. It also completed 14 expeditions, according to its website.

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The five passengers aboard the submarine included billionaire Hamish Harding, the chairman of Action Aviation; Shahzada Dawood, the vice chairman of Engro Corporation Limited; Dawood's son Suleman; Paul-Henri Nargeolet, a diver and Titanic researcher, as well as the director of underwater research at RMS Titanic; and OceanGate CEO Stockton Rush.

Debris from the submarine was discovered on June 22, including what the Coast Guard believes were human remains.