Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Canadian health company Bellus Health has reduced its workforce by approximately 45%. It is expected that this current reduction in the workforce and other related measures will result in annual savings of approximately C$3.5 million.
Subscribe to our email newsletter
According to Bellus Health, the current programs related to the company’s existing product and product candidates will not be affected by the cuts, which are being made primarily in basic research and research-related functions, as well as support and administrative functions.
The layoffs are expected to help reduce Bellus Health’s use of cash (burn rate), which is one of the conditions precedent to securing additional financing from Victoria Square Ventures and FMRC Family Trust.