Life Sciences, pharmaceuticals, people

Epix Cutting 23 Percent of Workers

Ryan McBride 10/23/08

Epix Pharmaceuticals (NASDAQ:EPIX), a Lexington, MA-based biopharmaceutical firm, announced Thursday that it is reducing its work force by 23 percent and “narrowing” the focus of its R&D. The company, which plans to continue developing its lead drugs for Alzheimer’s disease and respiratory conditions, says it expects the cuts to reduce its annual expenses by about $3 million.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.