Mondobiotech: saving measures
Stans – Due to the current financial market conditions and the lack of significant progress with currently available options, Swiss drug developer Mondobiotech says it will be implementing restructuring measures. Together with other fluctuations, this will lead to a reduction of more than 50% of the firm’s total workforce by the end of February 2012. Activities will be concentrated in the company’s Stans headquarters, and the Viglio offices will be closed by the end of the year. Mondobiotech says in future it will concentrate its activity on its existing pipeline and on the exploitation of partner relationships in order to license out the highest possible number of medicinal product candidates.