Introgen Reduces Development Staff to Focus on Commercial Activities after ADVEXIN Regulatory Filings in U.S. and Europe
Thursday July 3, 5:30 pm ET
Manufacturing Subsidiary Staffing to be Increased
AUSTIN, Texas--(BUSINESS WIRE)--Introgen Therapeutics, Inc. (NASDAQ:INGN - News) today announced a re-allocation of employees to focus on regulatory review and commercial activities. After years of product development, Introgen is directing corporate spending toward regulatory review programs, commercialization and the future marketing of ADVEXIN therapy. Recently the Company achieved the major corporate milestone of filing for regulatory approval of ADVEXIN cancer therapy in the U.S. and Europe. From its current total of approximately 70 employees, Introgen will eliminate approximately 20 positions primarily associated with ADVEXIN development and regulatory submission programs that have now been completed. Some of the approximately 50 remaining Introgen employees and some new employees are expected to join Introgen’s manufacturing subsidiary, Introgen Technical Services, Inc. The Company anticipated reductions in ADVEXIN program expenses contained in previous financial guidance.
“These steps will allow Introgen to conserve and re-direct resources toward its current mission, the approval and marketing of ADVEXIN p53 therapy,” said David G. Nance, Chairman and CEO. “Over the past twelve years we have managed more than 30 clinical trials involving more than 700 patients. We successfully developed production methods and manufacturing infrastructure for a new class of therapy. We linked our molecular therapy and clinical findings with biomarkers using pre-treatment diagnostics to guide clinical care and reduce toxicities for cancer patients. We have completed the considerable accomplishments of regulatory filings on two continents. We acknowledge the great contributions of our employees, past and present, toward the realization of truly personalized medicine.” |
