Renovis cuts staff, targets development

Renovis, a South San Francisco-based biotech company focused on drugs for neurological and inflammatory diseases, will eliminate approximately 50 positions, or 40% of its workforce, as part of a restructuring intended to reduce spending and focus research on late-stage preclinical drug discovery programs. The company says the move will not affect its partnership with Pfizer to develop small-molecule vanilloid receptor antagonists; clinical trials are expected to begin this year. Renovis says it is hoping to advance two programs for inflammatory disease and pain indications into clinical trials by 2008.