FLICKR, HARVEYBEN
In an incredibly competitive environment, with venture capital funds parsed more carefully than ever, FierceBiotech reported on eight innovative biotech companies that closed their doors recently. Here’s the list (in alphabetical order), and an account of why they bit the dust.
Company: Advanced Life Sciences
Founded: 1998
Focus: Treatments for infection, cancer and respiratory illness
While Advanced Life Sciences was waiting on the US Food and Drug Administration’s response on an antibiotic treatment for community-acquired pneumonia in 2009, it was forced to lay off 30 percent of its staff. Then an expert panel reviewing the drug said it was not effective, ultimately causing the company to suspend operations in early May.
Company: Altair Therapeutics, Inc.
Founded: 2007
Focus: Drugs for respiratory diseases like asthma and ...
