Ailing Lynx Revived by $24M Lifeline, 30 Percent Staff Cut: Focus Narrows | GenomeWeb

  Lynx Therapeutics has been revived for the immediate future by a prescription that includes more than $24 million in new financing and a 30 percent cut in its workforce of 200 people.

The ailing Hayward, Calif., microbead company had only $5.5 million in the bank at the end of 2001, and said bluntly in its annual report, filed March 29, that this cash would “soon be exhausted if we fail to secure additional financing within a month.”

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