The Ames-based pharmaceutical company NewLink Genetics is reducing its workforce by around 50 percent as it focuses on a single cancer-fighting drug. The action comes as it prepares for some pivotal trials.
NewLink is pouring its resources into development of indoximod. The company’s chairman, CEO and chief scientific officer Charles Link says the drug is showing promise in strengthening immune systems to combat cancer cells.
“Data presented thus far on work of the molecular action lead us to believe indoximod is a potent IDO pathway inhibitor with promising activity as a combination therapy for a number of types of cancer,” he says.
NewLink will keep about 70 employees at its Ames laboratories as indoximod moves into its late-stage clinical development. The company is reporting a loss of $16.7 million for the second quarter. Executives say they are well capitalized to move ahead with trials.