Celsion Announces 15–20 Percent Workforce Cut

September 9, 2015

September 09, 2015.

Oncology company Celsion Corporation announced today that it "expects to realize a 15 to 20 percent reduction in personnel and related annual operational costs" following completion of its integration of its June 2014 acquisition of EGEN, Inc.

Celsion has consolidated all its early stage and preclinical assets at its Huntsville, AL facility; all clinical development, commercialization, business development and administrative functions are now located in Lawrenceville, NJ. 

Celsion chairman, president and chief executive officer, Michael H. Tardugno, commented: "Our new organization will be both lean and focused on generating clinical data from our GEN-1 platform. As an IL-12 immunotherapy, GEN-1 has broad potential in multiple tumor types, and our clinical strategy is designed to accelerate its development, establish its clinical utility in various indications and drive it toward the market."