BioDelivery Sciences Consolidates Newark Operations, Bioral Amphotericin B Development At Raleigh

BioDelivery Sciences announced the consolidation of the company’s laboratory and other operations in Newark, New Jersey to the company’s headquarters in Raleigh, North Carolina. BDSI will vacate its Newark facility by September 30, 2009.

The company is determined that the need for the Newark facility, which had served principally as the company’s laboratory for the formulation development of Bioral Amphotericin B, is no longer necessary now that Bioral Amphotericin B is in clinical development in the US Bioral Amphotericin B is BDSI’s lead product candidate utilizing the company’s licensed Bioral drug delivery technology.

As part of this transition, Raphael Mannino, BDSI’s executive vice president and chief scientific officer, will step down as an officer of the company and all four employee positions in Newark will be eliminated, for an aggregate savings to BDSI of nearly $1 million per year.

Mark Sirgo, president and chief scientific officer of BDSI, said: “We continue to believe in the value of the Bioral drug delivery platform and, in particular, the significant potential for Bioral Amphotericin B. We believe our actions announced today will allow us to capture and progress the most advanced potential Bioral application in a more cost effective manner.”