Targanta shifts R&D focus, reduces burn rate

Montreal’s Targanta Therapeutics Inc has initiated a restructuring plan that will see a shift away from discovery research to the pre-clinical development of potential products and the termination of nine of its 42 employees. The move comes just weeks after its appointment of Dr Thomas Parr as its new chief scientific officer. Targanta’s burn rate will also be significantly reduced while biology resources are being redirected to support its chemistry group....