Pro­to­cols: Trou­bled Teles­ta ax­es staff in wake of FDA re­jec­tion; Evelo part­ners with Mayo re­searchers

Less than a year af­ter strik­ing a $137 mil­lion deal for the rights to Teles­ta’s blad­der can­cer drug MC­NA, Ipsen has de­cid­ed to punt the ther­a­py, forc­ing deep cuts at the Mon­tre­al-based biotech. Teles­ta says that it is shrink­ing its work force to 15, down from 50 at the end of March. It’s al­so sell­ing off its man­u­fac­tur­ing fa­cil­i­ties. The FDA re­ject­ed MC­NA back in Feb­ru­ary, say­ing the biotech would need to do a new Phase III be­fore it could get an ap­proval. Teles­ta, though, says it won’t spend any new funds on the pro­gram.

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