Biotech Poster Child Stumbles After Series Of Drug Failures, Cuts Half Its Staff
The trims will help OncoMed stay in business until the third quarter of 2019.
San Francisco Business Times:
Bay Area Biotech Slashes Half Of Staff After Drug Partnerships Falter
Bay Area biotech OncoMed Pharmaceuticals will cut about half its staff in a bid to reduce costs, the company said Monday, after a series of stumbles in clinical trials left the firm struggling. (McDermid and Leuty, 4/24)
In other pharmaceutical news —
San Francisco Business Times:
At High-Stakes Table, Growing Peninsula Biotech Antes Up With 'Fatty-Liver' Drug
This South San Francisco biotech has 150 employees, has raised $300 million and has an important partnership with a Big Pharma company. But it is the one drug that is not part of that deal that could have a big impact on a growing disease. (Leuty, 4/24)