INEX ANNOUNCES RESTRUCTURING PLAN

Inex Pharmaceuticals has announced extensive management changes and a restructuring to conserve cash and to facilitate a new strategic path to advance its lead anticancer drug Marqibo, its other Targeted Chemotherapy cancer products and its promising early-stage Targeted Immunotherapy pipeline. Timothy Ruane has been appointed president and chief operating officer, effective immediately. The company said it will reduce its workforce from 57 to 22 employees and cut its expenditures to less than $1 million per month.

PharmaLive (http://www.medadnews.com/News/Index.cfm?articleid=250227)