BioCentury
ARTICLE | Company News

Introgen cancer news

December 8, 2008 8:00 AM UTC

Introgen filed for Chapter 11 bankruptcy, retained Torreya Partners to explore strategic alternatives, and restructured and reduced headcount for the second time this year. The company reduced headcount by 30 (67%) to 15 to focus on its contract manufacturing subsidiary Introgen Technical Services Inc. and its U.S. and European regulatory programs for Advexin. David Nance resigned as CEO and president while remaining chairman. He is succeeded by J. David Enloe Jr., formerly SVP of operations. At Sept. 30, the company had $6.3 million in cash and a nine-month operating loss of $19.7 million (see BioCentury, July 14). ...