STRESSGEN BIOTECHNOLOGIES CUTS STAFF BY ONE-THIRD IN REALIGNMENT

Stressgen Biotechnologies Corp. said Wednesday it has laid off a third of its remaining workforce to lower operating spending and focus on development of its lead vaccine and will need to cut even more costs. "Our first priority at Stressgen is the continued development of HspE7 and this initiative is designed to facilitate the progress of this compound," a vaccine against human papillomavirus-related diseases, president and CEO Gregory McKee said in a release.

Canda.com (http://www.canada.com/national/nationalpost/news/story.html?id=b6b3b3ca-0863-4f1f-8871-681db9397a81)