AutoImmune - 2010 Biotech Graveyard
Company: AutoImmune
Based: Pasadena, CA
What Happened: AutoImmune, which had been working on products to treat autoimmune and other cell-mediated inflammatory conditions, started its downward slide after reporting lackluster results from a Phase III failure of multiple sclerosis drug dirucotide, a treatment it had been developing with BioMS. The developer hired Junewicz & Co. to explore its strategic options. After the review process, the firm decided to liquidate its assets and to dissolve the company.
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