Stressgen Biotechnologies Implements Restructuring

Stressgen Biotechnologies announced a restructuring that will allow the company to focus its resources on the advancement of its lead product candidate, HspE7, for human papillomavirus (HPV)-related diseases. As a result of the restructuring, the company will reduce its workforce approximately 49 percent from 77 to 39 employees, and redirect its research efforts to reduce the company's annual cash expenditures. As part of the restructuring, the company will consolidate its U.S. offices by closing the Collegeville, Pa., facility by year-end.

Canada NewsWire Group (http://www.newswire.ca/en/releases/archive/April2005/27/c1423.html)