Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

The Seattle Times

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Monday, August 4, 2008 at 12:00 AM

E-mail article     Print view

MDRNA laying off 30% of its staff, including president

Biotech firm MDRNA said today that it will terminate 23 employees, or about 30 percent of its workforce, mostly from its waning intranasal...

Seattle Times business reporter

Biotech firm MDRNA said today that it will terminate 23 employees, or about 30 percent of its workforce, mostly from its waning intranasal therapy franchise.

The terminations include President Gordon Brandt, Chief Scientific Officer Henry Constantino, and Chief Business Officer Timothy Duffy. Most employees will be laid off by Aug. 31, the company said as it released it second-quarter financial results.

MDRNA, formerly known as Nastech, said last week that its experimental nasal spray to treat obesity had failed at a midstage clinical trial.

MDRNA has been struggling since Procter & Gamble pulled out of a potentially lucrative research partnership with the company last November, after it determined a nasal spray for the treatment of osteoporosis wasn't working as well as expected.

The company signaled a new direction in June, when it announced a name change and a new chief executive officer, and said it would focus on RNA interference therapeutics, a frontier field in biotechnology.

Ángel González: 206-515-5644 or agonzalez@seattletimes.com

Copyright © 2008 The Seattle Times Company

More Business & Technology headlines...

E-mail article Print view      Share:    Digg     Newsvine

advertising

Rainier Pacific Financial calls rescue 'unlikely'

UPDATE - 09:37 AM
Clearwire gets $1.5B in financing from Sprint, others

UPDATE - 09:06 AM
Median home prices fell nationwide in 3Q

UPDATE - 09:20 AM
Housing plan reaches 1 in 5 borrowers

Credit-card holders to pay price for bank struggles

Advertising

Video

Ken Auletta talks about "Googled"
Ken Auletta talks about Google with Brier Dudley at the Seattle Central Library.

Medal of Honor
Pelosi answers questions at Swedish Medical Center
Pelosi speaks at Swedish Medical Center
"Pistol" Pete Ryan
Mourners gather at KeyArena for slain officer's memorial
Procession for slain SPD officer
Election Night: Approve R-71
Election Night: Reject R-71
Election Night: Joe Mallahan

Marketplace

nwautos

2009's most fuel-efficient sedansnew
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment

Open Houses

Find this weekend's open house listings.
Or search by location:

 
Most read
Most commented
Most e-mailed
 
 
Advertising