Biotec Pharmacon realigns strategy and reduces workforce
Published 11.12.2009
“It is unfortunate that we will have to separate with so many hard-working and competent professionals, but following the outcome of the diabetic ulcer program we face a different set of challenges both in terms of operations and financial capabilities,” says CEO Lars Viksmoen in Biotec Pharmacon. The reduction in manpower will affect all parts of the organization in the parent company, both in Tromsø and in Oslo.
The company is currently actively looking for possible explanations to the clinical outcome of the diabetic ulcer program. The company trusts that results from these efforts will provide information and knowledge enabling the company to reestablish a platform for its pharmaceutical development program, centered on the immune modulating activity of SBG on the innate immune system.
“Currently we need to align our ambitions with our financial capabilities, and plan for an organization and spending level that can be funded with existing cash and cash flow from continued growth of our profitable enzyme business. The contemplated divestment of part of the non-pharmaceutical business opens further funding possibilities,” says Svein Mathisen, Chairman of the Board in Biotec Pharmacon.
Biotec Pharmacon has decided to reduce the workforce within the parent company by 20 people out of a total of 35, to reflect a reduced activity level following the negative outcome of the phase III studies with SBG for diabetic ulcer.
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COB Svein Mathisen |
The company is currently actively looking for possible explanations to the clinical outcome of the diabetic ulcer program. The company trusts that results from these efforts will provide information and knowledge enabling the company to reestablish a platform for its pharmaceutical development program, centered on the immune modulating activity of SBG on the innate immune system.
“Currently we need to align our ambitions with our financial capabilities, and plan for an organization and spending level that can be funded with existing cash and cash flow from continued growth of our profitable enzyme business. The contemplated divestment of part of the non-pharmaceutical business opens further funding possibilities,” says Svein Mathisen, Chairman of the Board in Biotec Pharmacon.
