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Article: Inflazyme Pharmaceuticals Announces Re-Aligned R&D Strategy Undertaking Restructuring to Focus Resources.
- Article from:
- Business Wire
- Article date:
- July 28, 2004
CopyrightCOPYRIGHT 2004 Business Wire. 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)
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VANCOUVER, British Columbia -- Inflazyme Pharmaceuticals Ltd. (TSX: IZP) announced today that it is implementing a plan to re-focus its Research and Development efforts to concentrate primarily on its Complement Inhibition and Prodaptin(TM) technologies.
The Company has undertaken a restructuring, which includes consolidating its facilities and reducing the number of staff positions by 42 (a reduction of approximately 51%) in a move to conserve cash and to provide resources for the development of new clinical programs. This reduction is across the combined operations of the Company and its recent acquisition of Adprotech. The Company will now have 40 staff ...