Glycomed downsizes in face of competition

Glycomed Inc. is trimming its sails, dropping its Astenose heparinoid compound and cutting back from three simultaneous development programs to two.

Dropping Astenose means making some revisions in the company's business plan, which had been focused on filing an NDA on one compound and having Phase II data on two others before going back to the public markets around the start of 1995.