Two months after winding down development of its lead candidate for lack of funds, ImmunoCellular Therapeutics says it will cut jobs and facilities in a restructuring designed to lower costs and refocus the company on its program to generate cancer-killing T cells by engineering hematopoietic stem cells. The company gave no details on how many jobs will be eliminated or which facilities would be jettisoned in a statement yesterday. ImmunoCellular has seven full-time and two part-time employees, according to its Form 10-Q for the second quarter, filed August 14. The board and management of ImmunoCellular remain committed to pursuing a viable strategic path forward for the Company, with the goal of realizing the value of our immuno-oncology technology platform and assets, stated ImmunoCellular president and CEO Anthony J. Gringeri, Ph.D. To that end, ImmunoCellular said, it will shift its attention to developing its Stem-to-T-Cell research program, which could potentially treat both solid and blood tumors. Stem-to-T-Cell uses the immune system to manufacture antigen-specific killer T cells that target and destroy cancer cells, as well as prevent tumor recurrence through long-term immunosurveillance. Stem-to-T-Cell is expected to achieve two milestones by years end: During the third quarter, ImmunoCellular anticipates completion of loading … Continue reading
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