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Seeking 'Final Plan of Exit' for Array Business, Nanogen Starts Cutting Staff

NEW YORK (GenomeWeb News) - On the heels of Monday’s news that Nanogen is looking to sell, shut down, or find a partner for its microarray business, the company said today in a filing with the US Securities and Exchange Commission that it plans to trim its microarray workforce by 13 staffers, or around four percent.
 
Those staffers will be handed pink slips immediately, and Nanogen said more employee cuts may be on the way, depending on what the company decides will be its “final plan of exit,” the company said in the filing. 
 
This round of cuts will cost Nanogen around $335,000 in severance and related expenses.
 
Nanogen said Monday it wants to divest its microarray segment, which includes the NanoChip product line, in order to cut costs and focus on pursuing its clinical diagnostics strategy.

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