Issue Date: February 18, 2008
Nektar And Nastech Both Reduce Jobs
Two biotech firms known for their drug delivery technologies are cutting jobs as they aim to push clinical programs forward. Nektar Therapeutics, which boasts PEGylation and pulmonary delivery technology, has slashed about 150 positions as it attempts to transition from providing drug delivery services to developing its own drugs. The company took a hit earlier this year when Pfizer pulled the plug on Exubera, an inhaled form of insulin developed with Nektar. Separately, Nastech Pharmaceutical, which specializes in intranasal delivery, is cutting roughly 50 positions as part of a previously announced restructuring. In November, the company established a subsidiary, MDRNA, that will develop RNA-based therapeutics.
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