Business Update
Genaera Corporation terminates Evizon clinical program and restructures
Published in Medical Letter on the CDC and FDA, February 4th, 2007
Genaera Corporation (GENR) announced that following a comprehensive review of its development portfolio and external market conditions, the board of directors and management have determined that it is in the best interest of the company to terminate the Evizon (squalamine lactate) clinical development program in wet age-related macular degeneration (AMD) and focus company resources on the development of trodusquemine (MSI-1436) for the treatment of obesity.
The company anticipates initiating a Phase I clinical study of trodusquemine in the first half of 2007.
As a result of this strategic decision, Genaera will reduce its workforce by approximately...
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