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Biomax cuts costs and looks for partners and funding

This article was originally published in Clinica

Executive Summary

In an attempt to reduce its monthly burn rate, Canadian company Biomax is implementing "significant and immediate cost cutting measures", while it looks at financial options. The measures taken, which include the reduction by 50% of salaries and fees for employees and contract consultants, will extend remaining cash reserves by four months, to June 2001.

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