DGAP-News: Press Release: 4SC announces restructuring associated with recently declared strategic shift
Category: Word Press
DGAP-News: 4SC AG / Key word(s): Strategic Company Decision/Restructure of Company Press Release: 4SC announces restructuring associated with recently declared strategic shift
20.06.2013 / 07:30
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Press Release
4SC announces restructuring associated with recently declared strategic shift
- Corporate and personnel changes being made to focus on recently announced changes in 4SC's development strategy
- Main focus on further clinical development of key products, in particular on the cancer drug resminostat in liver cancer (HCC)
- 4SC Discovery, 4SC's subsidiary, will continue pursuing its successful course of growth in marketing early-stage research
Planegg-Martinsried, Germany, 20 June 2013 - 4SC AG (Frankfurt, Prime Standard: VSC), a discovery and development company of targeted small molecule drugs for cancer and autoimmune diseases, today announced its decision to implement measures to adjust corporate and personnel structures to the company's new, focused development strategy. These measures are aimed at enhancing the company's market position in the long term, further improving the efficiency of cost structures and enabling 4SC to utilise its funds and resources with a clear focus on the company's main products and value drivers.
4SC recently announced it will put greater emphasis on the development of projects that have the greatest potential in 4SC's pipeline and in return to scale back or discontinue specific development activities for other programmes. As a result, the personnel structure, mainly concerning aspects of preclinical and early clinical development, as well as in administration, will be adjusted and the berlingen-Bonndorf office will be closed. This will reduce the number of employees from 84 (as at 31 May 2013) by 13 or 15% over the course of 2013.
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DGAP-News: Press Release: 4SC announces restructuring associated with recently declared strategic shift
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