Julia Owens, Millendo

Mil­len­do braces for deep cuts af­ter its last clin­i­cal ef­fort ends in de­feat and a last search for a way to end things

Turn out the lights, the par­ty is over at Mil­len­do Ther­a­peu­tics.

Nine months af­ter pulling the plug on a piv­otal study of their lead drug, the Ann Ar­bor, MI-based biotech is shut­ter­ing its sole re­main­ing ear­ly-stage study for their NK3R an­tag­o­nist MLE-301. And they’re sound­ing a bleak note, plan­ning some deep cuts for the re­main­ing staff while the board goes about the busi­ness of find­ing a way to gain some val­ue out of this for share­hold­ers.

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