A Massachusetts-based company is betting on Alzheimer’s treatments
Biogen Inc. is taking a leap of faith on Alzheimer’s research.
The Massachusetts-based biomedical company has cut jobs once again in order to focus on developing therapies to combat the disease which affects 5.3 million Americans, The Boston Globe reports.
Last month CEO George Scangos unveiled the plan, which cut 880 jobs.
With its remaining 2,900 employees, Biogen is heavily focusing on Alzheimer’s treatments and discontinuing its successful research in fibrosis.
“Alzheimer’s historically has been a graveyard for drug developers, but it’s clearly a huge opportunity,’’ Chris Leo, senior vice president at Back Bay Life Science Advisors in Boston, told the Globe.
Biogen’s research programs are enterprising and expensive, and some cost more than $1 billion, the Globe reports.
Read the full story at the Globe.
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