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Progenics halts work on hepatitis treatment

June
8

Progenics Pharmaceuticals Inc., a Tarrytown-based biotech company, said that it has halted development of PRO 206, a treatment for the hepatitis C virus infection. The move comes at a time when Progenics said it looking to boost “operating efficiencies” and focus on its most promising drug development programs. “While our review indicated that PRO 206 did not satisfy the criteria for further development, our ongoing research and development efforts have yielded new compounds demonstrating comparable potency to PRO 206,” Chief Executive Officer Paul J. Maddon said in a written statement. The company added that it hopes to select a new drug development candidate for hepatitis in 2010.

This entry was posted on Monday, June 8th, 2009 at 4:24 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Biopharmaceutical

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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