Replidyne to restructure operations

Source: Healthcare Digital

Date :8/28/2008 12:04:27 AM

Drug developer Replidyne Inc said that the restructuring of its operation will reduce its headcount by about 80 percent to five employees.

The company will also take a charge of US$3.1 million, it said in a statement yesterday, August 27, and will limit its activities to completing its review of strategic alternatives.

Replidyne will also suspend further development of its investigational agent to treat clostridium difficile bacteria and C. difficile infection, and anti-infective compounds based on its DNA replication inhibition technology.

The biopharmaceutical company is looking at various options, including a merger or acquisition of the company. It is also considering the possible sale of its C. difficile and DNA replication inhibition programs.

In June, Replidyne discontinued clinical development of antibiotic faropenem to conserve cash but was unable to secure a partner to develop the drug.

Shares of the company closed flat at US$1.22 Wednesday on the Nasdaq.