Nor­we­gian biotech to en­act lay­offs; Uni­ty halves its pub­lic of­fer­ing

Nor­we­gian drug de­vel­op­er PCI Biotech said it couldn’t se­cure the funds to bankroll a Phase II can­cer tri­al.

The Oslo biotech put out word Thurs­day af­ter­noon that it couldn’t find a “fea­si­ble way for­ward” in fund­ing a Phase II tri­al in head and neck can­cer. That means the com­pa­ny won’t run the study of the can­cer vac­cine, dubbed fi­maVacc, and an undis­closed por­tion of the clin­i­cal team will be laid off be­fore year’s end.

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