|
|
Article: Vacaville, Calif., Biotech Firm to Slash $5 Million in Expenses.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 18, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Clint Swett, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Jun. 18--A struggling Vacaville biotechnology company has announced a new round of belt-tightening measures and the departure of one of its co-founders.
Large Scale Biology Corp., a leading Sacramento-area biotech firm, said it was cutting $5 million in expenses as it seeks to bring to market a drug to treat a rare genetic disorder.
While the cuts will not affect products already in commercial development, they will include layoffs.
The company also announced the departure of its executive vice president, David McGee, who co-founded the company in 1987. ...