Skip to main content

Cellomics Cuts One in Four Jobs as it Struggles to Become Profitable

NEW YORK, Jan. 30 - In an effort to become profitable, Cellomics has laid off 50 employees, or one in four workers, and postponed one of its major research drives, the company said on Tuesday.


Cellomics was planning to launch a more ambitious second business-development phase in which it would develop collaborative deals to apply its systems in toxicology, target identification and validation, said President and CEO D. Lansing Taylor. As part of that effort, the company staffed up new departments and filed papers for an IPO in the spring of 2000.


But given current market conditions, the project has been sidelined for now, Taylor conceded.


"Some of [our plans] we're just not going to pursue aggressively," he said. "The market is rewarding profitability, not upside value. So we're focused on making the platform business--the Phase I model--profitable."


Cellomics hopes to touch black by the end of 2002 or the beginning of 2003, he added.


The new departments have been cut back to skeleton staffing, said Taylor. The layoffs represented about 25 percent of Cellomics' workforce.


Another project that has been put on the back burner is the company's efforts to develop cell chip technology for patterning and microplates. "Since there's not a market today for miniaturization, we're delaying product development," said Taylor.


He also said that the company was prepared to go public as soon as market conditions became favorable again. "When there is a window, we are prepared to go through it."

The Scan

Pfizer-BioNTech Seek Full Vaccine Approval

According to the New York Times, Pfizer and BioNTech are seeking full US Food and Drug Administration approval for their SARS-CoV-2 vaccine.

Viral Integration Study Critiqued

Science writes that a paper reporting that SARS-CoV-2 can occasionally integrate into the host genome is drawing criticism.

Giraffe Species Debate

The Scientist reports that a new analysis aiming to end the discussion of how many giraffe species there are has only continued it.

Science Papers Examine Factors Shaping SARS-CoV-2 Spread, Give Insight Into Bacterial Evolution

In Science this week: genomic analysis points to role of human behavior in SARS-CoV-2 spread, and more.