GeneProt Postpones NJ Expansion; LSBC Slashes Its Spending and Staff | GenomeWeb

GeneProt and Large Scale Biology both announced cutbacks last week, as big pharma’s apparent reluctance to invest heavily in the companies’ technology began taking its toll. GeneProt, which had initially planned to establish a second industrial-scale proteomics facility in North Brunswick, NJ, by this fall, has now indefinitely postponed its expansion plans. LSBC, in an effort to reduce its cash burn rate, has laid off 31 percent of its workforce and reduced overall company spending by 30 percent.

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