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IDM Pharma’s setbacks lead to layoffs

January 18th, 2008, 6:11 am · Post a Comment · posted by Colin Stewart

FIRST SETBACKS, NOW CUTBACKS

After losing Sanofi-Aventis as a partner last month, IDM Pharma of Irvine warned of layoffs. Now it has told the Securities and Exchange Commission that the job losses will affect about 60 percent of its work force, which could mean nearly 50 job losses between its sites in Irvine and France. It’s also looking for a company it can merge into.

Last month, Sanofi-Aventis stopped working with IDM on developing the potential melanoma treatment UVIDEM. IDM is also still reeling from the Food and Drug Administration’s finding last summer that IDM’s bone-cancer treatment L-MTP-PE is ineffective.

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