Biovitrum metabolic, endocrine, inflammation news
Biovitrum will restructure its research to focus on later stage discovery programs and clinical development and, as a result, may reduce its headcount by 70-100 from about 580 employees. The move follows the company's recent efforts to replenish its pipeline following the failure of its two lead products in Phase II trials in 2003 and 2004. Since then, Biovitrum has gained three clinical compounds through acquisition (see BioCentury, Aug. 28).
The company said its total R&D budget will remain at about $70-$75 million per year, but that $12-$15 million will be reallocated from earlier phases to later phases of research. Biovitrum did not disclose what programs will be kept or cut, but has said it hopes to have seven to nine compounds in the clinic by the end of 2006. The most advanced compound is a recombinant bile salt-stimulated lipase ( BSSL), which is slated to enter Phase III testing for cystic fibrosis (CF) next year. Biovitrum gained BSSL from its August acquisition of Arexis AB (Gothenburg, Sweden). ...