BioCentury
ARTICLE | Strategy

Cytel trims R&D projects, jobs

July 26, 1993 7:00 AM UTC

Cytel trims R&D projects, jobs

Cytel Corp. told BioCentury that it has decided to scale back certain long-term research efforts in order to focus on its two priority projects: cell adhesion and antigen recognition. As a result, the company will eliminate about 20 jobs by the end of 1993. The move will save CYTL a few million dollars and allow the company to devote proportionately more resources to its lead compounds, although the move is more geared to focusing priorities than saving money, said spokesperson Deborah Goode. Before the cutback, CYTL has 150 employees...