French biotech Poxel is trying to stabilise its business after judicial reorganisation, with its court-approved recovery plan now moving into the execution phase. The Lyon-based company, which has spent the past year under financial pressure, received approval from the Commercial Court of Lyon last week to restructure its debt and continue operations.
Four months after the FDA advised it against filing for approval of its lead melanoma vaccine, IO Biotech is preparing for further restructuring. The Copenhagen-based biotech said yesterday that it is exploring strategic alternatives, including a merger, asset sale, business combination, or potential liquidation, and warned that it may need to implement additional workforce reductions and cost-cutting measures as the process unfolds.
Lille-based Genfit SA has discontinued Phase II development of its lead drug candidate VS-01, a liposomal ammonia scavenger designed to prevent organ failure in acute chronic liver failure (ACLF). The company will reprioritise its (preclinical) pipeline, including VS-01, which will be further developed in the area of urea cycle disorder (UCD).
Dewpoint Therapeutics Inc. has announced a significant corporate restructuring. Approximately 70% of its 130 employees will be laid off, and operations will be consolidated at the company’s Boston headquarters. The company will close its two German locations in Frankfurt and Dresden and streamline its pipeline.
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Dewpoint Therapeutics Inc