Economic Hard Times Catch up to Nventa

October 2008
Bioworld Week;10/13/2008, Vol. 16 Issue 41, p4
The article reports on the plan of Nventa Biopharmaceuticals Corp. to cut its work force by 60% to reduce its cash burn by 30%. The company also revealed its plan to seek merger and acquisition opportunities to strengthen its pipeline and finances. According Gregory McKee, chief executive officer (CEO) of Nventa, the present financial situation of the company was due to the economic crisis that affected the U.S. and the rest of the globe.


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