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news.Alfacell, a biopharmaceutical company, has announced the resignation of Lawrence Kenyon, its president, CFO and corporate secretary. Mr Kenyon will remain on the board of directors of Alfacell and will also serve as acting president, CFO and corporate secretary until at least January 31, 2009.
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Mr Kenyon has accepted a full time position as executive vice president of finance at Par Pharmaceutical, effective December 15, 2008.
In addition, the company has also announced that it will undertake a cost reduction program focused on reducing or eliminating all development program and personnel costs not essential to its efforts to complete a rolling new drug application (NDA) submission for Onconase in patients suffering from unresectable malignant mesothelioma.
The goal of this cost reduction program is to best position the company to be able to maintain operations after receiving guidance from the FDA at its pre-NDA meeting at the end of January 2009.
According to the company, Onconase has been shown in the laboratory and clinic to target cancer cells while sparing normal cells. Onconase triggers apoptosis, the natural death of cells, via multiple molecular mechanisms of action.