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To Focus on Drug Discovery Programs Based On Biologics
San Diego, CA – January 20, 2010
Tanabe Research Laboratories U.S.A., Inc. (TRL), an indirect wholly owned subsidiary of a Japan based pharmaceutical company Mitsubishi Tanabe Pharma Corporation (MTPC), today announced that the Company had determined to discontinue the current small molecule research programs in metabolics and inflammation/immunology at TRL with the ultimate objective of launching new drug discovery programs based on biologics. All current research activities at the TRL facility will be terminated and all employees will receive severance packages. It is anticipated that the shut-down will be completed in the first quarter of 2010.
Commenting on the development, Takeshi Matsumoto, Ph.D., member of the TRL Board stated, “ As we considered the optimal use of the facilities in San Diego and the resources available to us in the United States, we determined to make a complete shift in focus of our efforts at TRL from small molecule compounds to biologics. We believe there is a great deal of relevant scientific know-how available in the San Diego region and many opportunities to collaborate with others pursuing successes in the similar areas of research.”
Dr. Matsumoto continued, “We have offered all employees leaving from TRL generous severance arrangements We believe that this will mark an important new step for TRL in its quest to discover new biological entities for valuable medicines. ”
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