Houston Biotechnology news

The Woodlands, Texas, company initiated a spending reduction plan and cut its workforce to 19 from 29 employees. HBI, which reported a net loss of $4.2 million in the year ended Dec. 31, said the measures should pare its burn rate by about 30 percent. The company said its $2.2 million in cash should get it into the third quarter.

HBI will continue the development of its lead product, 4197X-RA Immunotoxin to prevent secondary cataract. Santen Pharmaceuticals Co. Ltd. (Osaka) has an option on Japanese rights to the drug. HBI is seeking an additional partner to handle worldwide development and distribution. The company expects to present in April additional data from a Phase I/II trial. ...