An antibiotics player axes staff in wake of PhIII fail; Horizon to fund antibody development, with option to buy
A few weeks after waving a white flag of surrender on their late-stage study of a new antibiotic, ContraFect CEO Roger Pomerantz has now brought out the axe to reduce the cash burn.
Their Q2 report out today includes a note on 16 layoffs — a little more than a third of the head count. Included in the departures is CMO Cara Cassino, who spent the last seven years at the biotech. She’ll be replaced by Garrett Nichols, who’s coming in as interim CMO.
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