Nuvelo Restructures After Trial Fails

Nuvelo is overhauling its operations after its lead drug candidate, alfimeprase, did not prove more effective in restoring catheter function than the gold-standard product, Genentech's Cathflo Activase. Roughly 40 employees, including Michael D. Levy, executive vice president of R&D, will be let go. Nuvelo says it will cease development of alfimeprase, an enzyme that was also being developed to treat acute ischemic stroke.