Slammed by a tri­al hold, Intar­cia ter­mi­nates stud­ies and ax­es staff in wake of an FDA re­jec­tion

Intar­cia’s trou­bled late-stage ef­forts to rev­o­lu­tion­ize the way di­a­betes is treat­ed has run in­to a fresh round of set­backs.

The Boston-based biotech — a pri­vate com­pa­ny once val­ued at $3.5 bil­lion — con­firmed to End­points News late Fri­day night that the com­pa­ny has cut 60 staffers and been hit by a clin­i­cal hold from the FDA.

Those set­backs come four months af­ter the FDA re­ject­ed Intar­cia’s im­plant­ed di­a­betes drug/de­vice, which is de­signed to de­liv­er sta­ble dos­es of ex­e­natide with twice-year­ly tune-ups. Intar­cia CEO Kurt Graves has long cham­pi­oned the de­vice as a cer­tain block­buster, earn­ing ku­dos and $600 mil­lion in Se­ries EE in­vest­ment cap­i­tal along the way.

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