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.German biopharmaceutical company GPC Biotech is closing a facility in Waltham, Massachusetts and reducing its workforce by 16% in order to consolidate its drug discovery efforts.
Subscribe to our email newsletter
The drug discovery programs currently being managed in Waltham will be moved to Munich, where the company has its headquarters, while GPC will continue to build its clinical development and commercialization groups based in Princeton, New Jersey.
Bernd Seizinger, CEO, said: “With the acquisition of the assets and the hiring of many research scientists of Munich-based Axxima Pharmaceuticals in 2005, as well as the ending this year of the collaboration with ALTANA Pharma in Waltham, we have decided to consolidate our drug discovery activities into one location – Munich – and we will be making further investments in our drug discovery efforts there.”
GPC said that its US presence will remain strong and the company plans an expansion of its clinical development team at Princeton, New Jersey. The company also plans to boost its commercialization organization by hiring a field sales force for the US.