Progenics halts work on hepatitis treatment
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.