Biotec Pharmacon realigns strategy and reduces workforce
(Thomson Reuters ONE) - (Oslo/Tromsø, 11 December, 2009) Biotec Pharmacon has decided toreduce the workforce within the parent company by 20 people out of atotal of 35, to reflect a reduced activity level following thenegative outcome of the phase III studies with SBG for diabeticulcer."It is unfortunate that we will have to separate with so manyhard-working and competent professionals, but following the outcomeof the diabetic ulcer program we face a different set of challengesboth in terms of operations and financial capabilities," says CEOLars Viksmoen in Biotec Pharmacon. The reduction in manpower willaffect all parts of the organization in the parent company, both inTromsø and in Oslo.The company is currently actively looking for possible explanationsto the clinical outcome of the diabetic ulcer program. The companytrusts that results from these efforts will provide information andknowledge enabling the company to reestablish a platform for itspharmaceutical development program, centered on the immune modulatingactivity of SBG on the innate immune system."Currently we need to align our ambitions with our financialcapabilities, and plan for an organization and spending level thatcan be funded with existing cash and cash flow from continued growthof our profitable enzyme business. The contemplated divestment ofpart of the non-pharmaceutical business opens further fundingpossibilities," says Svein Mathisen, Chairman of the Board in BiotecPharmacon.For further information, please contact:CEO Lars Viksmoen, tel +47 40620870COB Svein Mathisen, tel +46 462868567This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.12.2009 - 08:02 Uhr
Sprache: Deutsch
News-ID 9492
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