Agennix Halves Headcount, Closes Houston Site, Following Talactoferrin Failure In NSCLC

24 Aug 2012

• By John Davis

German biotech Agennix makes drastic cuts following second late-stage clinical trial failure of its investigational oral immunotherapy talactoferrin.

German biotech Agennix AG is to cut its workforce by 55%, or around 37 employees, and close its facility in Houston, Texas, following the failure of its lead compound, talactoferrin, in the Phase III Fortis-M clinical study in non-small cell lung cancer (NSCLC).

There will be significant headcount reductions in both its U.S. and German workforces, the company said in a tersely worded...