ARTICLE | Company News

Telesta cancer news

August 8, 2016 7:00 AM UTC

Telesta will reduce headcount to 15 and will implement “significant expenditure controls” to focus on contractual obligations and licensing or acquiring clinical or near-clinical therapeutics. Telesta said it will maintain another 4 employees at its manufacturing facilities “during the time required to monetize these facilities.” The company had 50 employees at March 31 and 32 at June 30. Ipsen Group (Euronext:IPN, Boulogne-Billancourt, France) will return to Telesta rights to develop and commercialize MCNA to treat high risk non-muscle invasive bladder cancer outside of North America, South Africa, South Korea and Japan. Telesta said “there is no reasonable assurance that a development partner in any region of the world can be found for MCNA in the short term;” the company will cease development efforts and funding to find a partner to develop the mycobacterial cell wall-DNA complex (MCC). In February, FDA issued a complete response letter to Telesta for a BLA for MCNA to treat high-risk non-muscle invasive bladder cancer in patients who have failed first-line treatment with bacille Calmette-Guerin (BCG) therapy (see BioCentury, Nov. 23, 2015 & Feb. 8, 2016). ...