GlobeImmune restructures, cuts “majority” of workforce
GlobeImmune, a biopharmaceutical company based in Louisville, Colo., will eliminate the majority of positions in its workforce. This is not expected to have an impact on ongoing clinical trials being conducted by its collaborators in oncology and hepatitis B.
"Following our recent data announcement in our hepatitis B program, this workforce reduction is a necessary action to conserve working capital and provide maximum flexibility in determining the future direction of GlobeImmune," said Timothy C. Rodell, M.D., president and CEO of GlobeImmune.
GlobeImmune is focused on developing products for the treatment of cancer and infectious diseases based on its proprietary Tarmogen platform. Tarmogens activate the immune system by stimulating cellular immunity, known as T cell immunity, in contrast to traditional vaccines that predominately stimulate antibody production. To date, Tarmogen product candidates have been generally well-tolerated in clinical trials for multiple disease indications and are efficient to manufacture.
In May 2009, the company entered into a worldwide strategic collaboration and option agreement with Celgene focused on the discovery, development and commercialization of product candidates intended to treat cancer. Celgene exercised their option to take an exclusive worldwide license to the GI-6300 Tarmogen product series targeting brachyury. In October 2011, the company entered into a worldwide, strategic collaboration with Gilead Sciences to develop Tarmogens intended for the treatment of chronic hepatitis B infection.