Israel's Compugen is restructuring around three business units and laying off a quarter of its work force. In a drive to focus on short- and mid-term business goals, the drug discovery company has created three units: therapeutics, diagnostic biomarkers, and a research and discovery arm.
"It is now both possible and appropriate for the company to target the unique discovery capability that has been created to specific product areas and, while continuing to invest substantially in the further enhancement of our core research, to also focus these activities in broad, but clearly defined, application areas," said company CEO Alex Kotzer. "Unfortunately, this results in a number of very talented and loyal contributors to our past efforts and accomplishments leaving the company, which is a very painful step for us to take."
- read this report from Globes for more