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Article: VaxGen Completes Development Activity in Support of Anthrax Vaccine Partnering Effort and Reduces Associated Staff.
- Article from:
- PR Newswire
- Article date:
- May 24, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. 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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SOUTH SAN FRANCISCO, Calif., May 24 /PRNewswire-FirstCall/ -- VaxGen Inc. (Pink Sheets: VXGN) announced today that has discontinued further development of its recombinant anthrax vaccine and is laying off 20 employees, or 25% of its workforce, directly and indirectly associated with the vaccine program. The company's decision follows the recent completion of several milestones intended to support ongoing efforts to partner its anthrax vaccine program and was based on the Department of Health and Human Services (HHS) recent action related to the potential procurement of a next-generation anthrax vaccine.
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