Ambrilia shutters French ops, hunts for a deal

Canada's Ambrilia says it has shuttered its operations in France and bid farewell to Chief Scientific Officer Dr. Bonabes de Rouge. The restructuring has reduced Ambrilia's staff to 15 inside its Montreal headquarters.

"As founder and former president and chief executive officer of Cellpep S.A. (now Ambrilia Biopharma France S.A.), Bonabes brought to Ambrilia his solid expertise in peptide development and was responsible for the generation and development of Ambrilia's original formulations of C2L (Octreotide) and Goserelin, which it obtained through the acquisition of Cellpep S.A. in 2006," said CEO Dr. Philippe Calais.

In an update of its strategic review, Ambrilia announced that the board "has now authorized the company to broadly solicit proposals from third parties for transactions with the company which might result in superior value for the shareholders."

- check out the Ambrilia release

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