The company’s restructuring plan involves cutting 46 staff from a current total of 316 employees, or approximately 15% of the total workforce. All affected staff are based in the US, with reductions in the commercialization, drug development and general and administrative groups. GPC Biotech said that it is retaining the personnel needed to prepare and file as quickly as possible a potential NDA for satraplatin based on overall survival results.
The company recently withdrew its New Drug Application for its prostate cancer drug satraplatin, following an advisory panel’s recommendation that the FDA wait for overall survival data before deciding whether to approve the drug.
Bernd Seizinger, CEO, said: “I would like to express my sincere appreciation to the affected employees for their important contributions to GPC Biotech. I would also like to emphasize that our belief in satraplatin remains strong and we are committed to doing everything we can to bring satraplatin successfully to the market.”
Munich-based GPC Biotech also said that Martine George will succeed Marcel Rozencweig as senior vice president of drug development and chief medical officer and will assume leadership of the company’s drug development team. Dr Rozencweig will remain with the company in the new role of senior vice president, clinical science and drug evaluation to focus on identifying and pursuing new drug development in-licensing opportunities.
GPC Biotech is also planning to slow down certain ongoing activities and not make further financial commitments to its 1D09C3 monoclonal antibody and cell cycle inhibitors programs at this time. However, the company plans to maintain the capability to ramp up these programs later, should more resources be available to do so. The company also plans to continue ongoing satraplatin trials, including the SPERA expanded access program.