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February 24, 2018

Biotech unicorn Intarcia hit by layoffs, trial setback


Four months after the FDA declined to approve its lead diabetes treatment due to manufacturing concerns, Intarcia Therapeutics has laid off 60 employees and terminated two late-stage trials of the drug-device, the company’s CEO told the Business Journal.

Boston-based Intarcia, which has been valued at up to $5.5 billion, announced in late September that the FDA had denied its initial application to market ITCA 650, a matchstick-sized device that is inserted into the abdomen and gradually pumps tiny…


Source: Boston Biz

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