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Aimed at driving shareholder value, uniQure shakes up business

Published 11/15/2016, 08:27 AM
Aimed at driving shareholder value, uniQure shakes up business
BMY
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QURE
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  • With the aim of improving its execution to stoke shareholder value, uniQure (NASDAQ:QURE) refocuses its pipeline and consolidates manufacturing.
  • It will prioritize its development programs on hemophilia B, Huntington's disease and those under its collaboration with Bristol-Myers Squibb (NYSE:BMY) in cardiovascular disease.
  • It will restructure its R&D group in the Netherlands and consolidate its manufacturing in the U.S at its Lexington, MA facility. The company has also initiated discussions with collaborators about backing away from licensing deals for AMT-110 for the treatment of Sanfilippo B, but will pursue partnering opportunities for its academic-sponsored Parkinson's disease program.
  • The company expects to save €5M - 6M in annual operating expenses by cutting 50 - 60 positions (20 - 25% of its headcount) by the end of next year. It expects to save another €11M - 15M over the next two years by refocusing its pipeline. Management believes that its current cash resources will be sufficient to fund operations into 2019.
  • Deya Corzo, M.D., SVP of the liver and metabolic area and Charles Richard, M.D., Ph.D, SVP of the central nervous area will leave the company by year end.

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