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news.Belgium-based biotech company Devgen has reached a collective labor agreement following negotiations with the social partners to shut down its pharma division, Devgen Human Therapeutics.
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This agreement is a result of the previously announced intention to close Devgen’s pharma division. This closure will lead to the employment of the 19 employees, active in this division, to be terminated effective December 31, 2008.
Devgen Human Therapeutics conducts preclinical drug discovery for treatment of diabetes, obesity and arrhythmia.