IDM Pharma announces termination of Uvidem development by Sanofi-Aventis |
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Published
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Mon, 31 Dec 2007 14:37
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BOSTON (Thomson Financial) - IDM Pharma Inc. Monday said France-based Sanofi-Aventis has decided to discontinue its participation in the development of Uvidem, the investigational therapy being studied for the treatment of melanoma, with all rights to the product reverting to IDM Pharma.As a result, IDM Pharma said it expects to restructure. The company anticipates the restructuring plan will involve staff reductions and a review of the assets and costs associated with products under development. The plan is expected to be finalized and approved by the board during the first quarter of 2008.IDM Pharma said it will continue to evaluate the Uvidem clinical program.Shares of the Irvine, Calif.-based biopharmaceutical company closed Friday at 88 cents.Casey Logancl/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Sanofi-Aventis, Astellas to restructure Japan JV, rights to products rejiggered 