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Inflazyme Pharmaceuticals Announces Corporate Restructuring

Published in Health Business Week, March 9th, 2007

Inflazyme Pharmaceuticals Ltd. (TSX: IZP) today announced that it has undertaken a corporate restructuring, following its announcement on the results of the Phase 2b CAPSICS study on January 29, 2007. The results demonstrated a surprisingly large placebo response in the asthma trial which obscured any potential effects of the drug.

The restructuring, which takes effect immediately, will reduce the Company's expenditures and improve its cash position. This will allow the Company time to select the best strategic option to maximize value for shareholders. The restructuring involves a reduction of approximately 70% of the Company's staff. The costs associated with the...

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Source: Health Business Week (2007-03-09)

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