vTv Ther­a­peu­tics cuts 65% of em­ploy­ees in shake­up; Freenome bags $300M in Se­ries D to ex­pand mul­ti­omics plat­form

vTv Ther­a­peu­tics has de­cid­ed to chop down its work­force by al­most two-thirds.

The High Point, NC biotech an­nounced Mon­day that it would piv­ot and now pri­or­i­tize its lead pro­gram, the oral glu­cok­i­nase ac­ti­va­tor TTP399, as it gears up for Phase III piv­otal tri­als.

The drug was grant­ed break­through ther­a­py des­ig­na­tion af­ter show­ing a 40% re­duc­tion in hy­po­glycemic episodes com­pared to place­bo, and back in Oc­to­ber vTv an­nounced pos­i­tive re­sults in a study show­ing no in­creased risk for ke­toaci­do­sis, a se­vere com­pli­ca­tion of di­a­betes.

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