DIA Biosimilars 2013

Vical

Vical restructures, 39% staff reduction

Friday, August 23, 2013 12:15 PM

Vical, which researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases, has announced a restructuring to conserve capital, including a staff reduction of 47 employees, approximately 39% of the company's total workforce. Following the restructuring, the company will have approximately 74 employees. In addition, the company is focusing its resources on its infectious disease vaccine programs and terminating activities related to Allovectin, the company's investigational cancer immunotherapy which recently failed to meet its phase III efficacy endpoints.

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