Medigene cancer news
MediGene will restructure and reduce headcount by 52 (49%) to about 55 to save cash and focus on seeking a partner for its EndoTAG-1. MediGene said most of the reductions will come from manufacturing and clinical development areas related to EndoTAG-1, an IV paclitaxel formulated with EndoTAG tumor endothelial cell targeting technology. As part of the restructuring, MediGene's board and management also will propose to reduce the board at its next shareholder meeting in spring 2011.
In May, MediGene reported that EndoTAG-1 plus paclitaxel met the primary endpoint in a Phase II trial for triple-receptor negative breast cancer. MediGene said it will pursue Phase III development of EndoTAG-1 after partnering the compound (see BioCentury, May 10). ...