BioCentury
ARTICLE | Company News

Altus drops Trizytek, restructures

January 27, 2009 2:19 AM UTC

Altus (NASDAQ:ALTU) said its limited cash resources allow support of a single clinical development program and thus will discontinue development of its lead compound, Trizytek, to focus on ALTU-238. The company also will reduce headcount by 100 (75%) to about 35, including CMO Burkhard Blank and CFO Jonathan Lieber. Altus expects the moves to extend its cash runway through year end.

ALTU-238, a subcutaneous long-acting formulation of recombinant human growth hormone (rhGH), has completed a Phase II trial to treat growth hormone deficiency in adults. The company plans to begin a Phase II trial in pediatric patients this quarter, with data expected mid-2010. Altus said it chose to develop ALTU-238 over Trizytek because of a larger potential market, stronger data that would support future fundraising, and an easier development and regulatory path. ...