Peninsula biotech sheds 20% of jobs to focus on drugs closer to finish line

Cancer-fighting Five Prime Therapeutics Inc. will cut about 20 percent of its 209-person workforce as it tries to push more drugs into clinical trials and advance those already being tested on patients. The move — the first large-scale layoff in the South San Francisco biotech company's 17 years — comes during a sustained push by Five Prime (NASDAQ: FPRX) into cancer immunotherapy, where drugs are used to rally the immune system to battle cancer. The job cuts, starting today, include researc h,…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news