Isolagen to shutter its UK subsidiary

Exton, PA-based Isolagen is closing its UK operations, saying that sustaining more losses in Europe isn't in the company's best interests. The move affects about 80 positions. "The management and the board have determined that the best use of resources is to focus on advancing the U.S. pivotal Phase III clinical trial of the Isolagen Process for the treatment of certain facial wrinkles, and then, with regulatory agencies' agreement, initiate clinical studies in key strategic therapeutic and aesthetic areas," said CEO Nicholas L. Teti. 

- see the release from Isolagen