Celladon cardiovascular news

Celladon will discontinue R&D and will cut the remainder of its R&D staff, or about 50% of its remaining 17 employees, after its board unanimously agreed to seek a sale of the company or its assets and/or a liquidation in lieu of a partnership. The company has eight remaining full-time employees and is using Wedbush PacGrow Healthcare to seek an acquisition or partnership. The cuts are effective this quarter. The company declined to provide operating guidance. Earlier this year, Celladon cut about 50% of its 34 employees to save cash after the company’s Mydicar missed the primary endpoint in the Phase IIb CUPID2 trial to treat advanced heart failure (see BioCentury, June 22). ...