Biotech, Layoffs, RNA Interference

MDRNA Cuts 23 Jobs, Mostly in Nasal Delivery Business

Luke Timmerman 8/5/08

MDRNA, a Bothell, WA-based developer of RNA interference drugs, said yesterday it has eliminated 23 jobs, leaving it with a staff of 55. Most of the cuts were from its nasal drug delivery program, which was the main concentration of the company for most of its history when it was named Nastech Pharmaceutical. Most employees losing their jobs were given notice Aug. 4 and will leave no later than Aug. 31, the company said. The cuts affect three executives from the company’s nasal delivery business—president Gordon Brandt, chief scientific officer of Delivery Henry Constantino, and chief business officer Timothy Duffy.