trending Market Intelligence /marketintelligence/en/news-insights/trending/mkrt86lb6cuggpbc3vw66a2 content esgSubNav
In This List

Medivir starts layoffs to direct resources toward clinical development projects

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Insight Weekly: Cryptocurrency's growth; green bond market outlook; coal investors' windfall

Blog

Global M&A By the Numbers: Q1 2022

Blog

Insight Weekly: Challenges for European banks; Japan's IPO slowdown; carmakers' supply woes


Medivir starts layoffs to direct resources toward clinical development projects

Sweden-based Medivir AB is reducing the number of its employees to 17 from 75 to focus internal resources on clinical development projects.

The company said the layoffs are due to redundancies, mainly within research and administration, and will cut the company's cost base by about two-thirds, freeing up significant resources for the development projects.

In addition, Richard Bethell will leave the position of chief scientific officer. He had been chief scientific officer and executive vice president for research and development since Sept. 1, 2015.

The Sweden-based pharmaceutical company is planning to start late-stage studies for Remetinostat to treat cutaneous T cell lymphoma, a rare kind of blood cancer, and MIV-711 to treat osteoarthritis. Its clinical pipeline also includes treatments for tumors and liver cancer.