Issue Date: March 24, 2008
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.
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