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Lynx Cuts 25 Percent of Workforce

SAN FRANCISCO, Jan. 22 - Lynx Therapeutics said today that it was laying off 25 percent of its staff.


The cutting of 30 people, primarily research and development staff based in Heidelberg, Germany, and workers in the proteomics group in California, brings the total company headcount to 90 people, according to Lynx.


In April Lynx laid off 44 employees.


This round of layoffs marks the discontinuation of the company's proteomics development efforts, including investment in its Protein Profiler, Lynx CEO Kevin Corcoran said in a statement.


"Our business strategy will focus on MPSS, our product that currently generates revenues for us primarily through genomics discovery services for our customers," said Corcoran.


Last week, Lynx received additional notice by Nasdaq that the company was in danger of being delisted from the stock exchange.





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