Inion to shut down Cambridge research facility

The closure, which is expected to be completed by the end of December, will result in the loss of four R&D jobs and will contribute approximately E1.5 million in annual savings for the company. The total cost of the closure is expected to be up to E0.5 million, of which approximately half will be a cash outlay.

The decision to close the facility was taken following the company’s strategic plan to become more focused on the commercialization of its existing products, and the development of new products in its core areas of orthopedic trauma and spinal surgery.

The company has said that the development of Inion Optimaplus is unaffected by this closure and its current clinical program will continue as planned. Inion is assessing its options for other intellectual assets created at the facility, which include six filed patents on new bioactive molecules with novel modes of action.

CEO Chris Lee said: “With the key objectives achieved at the Cambridge facility and the termination of other long-term research projects, the closure of Cambridge has unfortunately resulted in a small number of redundancies. We continue to focus strongly on key areas of the business, particularly in establishing effective commercial routes for our products, making them more accessible to surgeons.”