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XOMA Announces Workforce Reduction

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By: Tim Wright

Editor-in-Chief, Contract Pharma

XOMA Ltd. will reduce its workforce by approximately 42% or 144 employees, mostly from manufacturing positions. The company expects to cut costs by $27 million when the changes are completed in 2Q09, and will incur a charge of approximately $3 million for severance and other related costs.     The company will end up with 197 employees to develop XOMA 052, an anti-inflammatory antibody drug candidate for the treatment of Type 2 diabetes, develop and license technology, continue antibody disc...

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