BioCentury
ARTICLE | Company News

Medivir cancer news

October 17, 2016 7:00 AM UTC

Medivir will reduce headcount by 30 (25%) to about 90 and focus its pipeline exclusively on cancer. Cuts will come from the early research organization and administrative and commercial support functions. Medivir said it will reduce the number of projects in its early stage research portfolio to “strengthen capabilities in clinical development” and “enable broadening” its pipeline with clinical-stage cancer products. The company’s current pipeline lists one cancer product -- a nucleotide DNA polymerase inhibitor that is in discovery-stage development for hepatocellular carcinoma (HCC). Medivir plans to begin partnering discussions for all infectious disease assets in its pipeline by year end and for MIV-711 once the reversible small molecule inhibitor of cathepsin K (CTSK) completes an ongoing Phase IIa trial to treat osteoarthritis. Data from the trial are expected in 1H17. The company expects the changes to save SEK110 million ($12.6 million) annually...