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Business
Bankruptcy for GlycoGenesys
February 13, 2006
| A version of this story appeared in
Volume 84, Issue 7
GlycoGenesys, a Bostonbased biotech firm specializing in carbohydrate-based drugs, has filed for Chapter 11 in a Massachusetts bankruptcy court. The company has also slashed more than half its workforce, a move that it says will save over 40% of its payroll. While deciding on its future, GlycoGenesys intends to continue supporting its lead candidate, GCS-100. A low-ethanol formulation of GCS-100 is in Phase I/II trials for multiple myeloma, a type of blood cancer.
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