Brief: Vivesto Focuses Its Project Portfolio And Introduces Cost-Saving Measures

Vivesto AB

25/10/2023 06:40

Oct 25 (Reuters) - Vivesto AB  VIVE.ST :
    * VIVESTO FOCUSES ITS PROJECT PORTFOLIO AND INTRODUCES
COST-SAVING
MEASURES
    * DEVELOPMENT OF DRUG DELIVERY PLATFORM XR-18 AND RELATED
RESEARCH
PROJECTS WILL BE TERMINATED
    * OPERATIONS AT COMPANY'S LABORATORIES IN UPPSALA WILL BE
DISCONTINUED WITH STAFF REDUCTIONS AS A RESULT
    * MEASURES ARE EXPECTED TO REDUCE COSTS IN COMPANY BY MORE
THAN
SEK 35 MILLION ON AN ANNUAL BASIS
    * WILL DIRECT RESOURCES TO AREAS WITH GREATEST POTENTIAL TO
BUILD
SHAREHOLDER VALUE IN SHORT TERM
    * WILL DIRECT RESOURCES TO CANCER PROGRAM CANTRIXIL AND
VETERINARY
ONCOLOGY PRODUCT PACCAL VET
    * EFFORTS TO FIND A NEW LICENSEE FOR EUROPE-APPROVED CANCER
DRUG
APEALEA ARE ONGOING
    * AND BUSINESS DEVELOPMENT ACTIVITIES TO ENABLE DIVESTMENT
OF
XR-18 PLATFORM WILL BE INITIATED IMMEDIATELY

Source text for Eikon:  ID:nMFN2yr0hW 
Further company coverage:  VIVE.ST 

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