BioCentury
ARTICLE | Company News

Celladon cardiovascular news

June 22, 2015 7:00 AM UTC

Celladon’s board approved a plan to reduce headcount by about 50% to about 17 to save cash and the company hired Wedbush PacGrow Healthcare to seek an acquisition or partnership. The moves come after the company’s Mydicar missed the primary endpoint in the Phase IIb CUPID2 trial to treat advanced heart failure. The company could not be reached for exact headcount figures or expected savings.

Celladon promoted Paul Cleveland to president, CEO and a director from president and CFO. Cleveland succeeds Krisztina Zsebo, who resigned as CEO and as a director. Andrew Jackson transitioned to CFO from corporate controller. At March 31, Celladon had $70.6 million in cash and a three-month operating loss of $16.3 million. The company reported a 2014 operating loss of $33 million. ...