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KeraVision cuts staff by 60% to stretch cash reserves

This article was originally published in Clinica

Executive Summary

Ophthalmic company KeraVision is to cut nearly 60% of its workforce in an attempt to "stretch out its cash reserves" in order to continue its testmarket programme and clinical trials. The job cuts will affect all areas and levels of the company, KeraVision says. The company, which makes INTACS vision correction inserts, is also considering possible strategic alliances and options for additional financing.

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