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MetaMorphix Closing Canadian Arm; Plans to Continue Genomics R&D Program

NEW YORK, Oct. 20 (GenomeWeb News) - MetaMorphix is closing its Canadian subsidiary, MetaMorphix Canada, in an attempt to cut costs, the company said yesterday.

 

"While we regret having to take this action, we believe it is a necessary step in our drive to reduce operating costs," Edwin Quattlebaum, MetaMorphix's chairman, CEO, and president, said in a statement. "We appreciate all of the hard work and effort that our Canadian employees have brought to our immunopharmaceutical and growth factor technology platforms."

 

The reduction in workforce and the close of the Canadian facility, which is based in Saskatoon, Saskatchewan, will enable the company to consolidate its drug-discovery research in its Beltsville, Md., headquarters "while continuing our genomics research and development program" at MMI Genomics, MetaMorphix's Davis, Calif., subsidiary.

 

The company did not disclose in a statement how many employees it has or how many were being laid off.

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