Corporate-backed medical research firm Light Sciences Oncology will reportedly be making cuts after one of its treatments failed in a clinical trial.
US-based cancer research firm Light Sciences Oncology has failed in a pivotal clinical trial for its drug/device treatment combination, according to news provider Xconomy, and is preparing for cuts across the company including redundancies.
Light Sciences has raised more than $130m from a selection of investors since its inception. Light Sciences’ series B round featured backing from financial services firm Fidelity Investments’ corporate venturing unit Fidelity Ventures, investment bank Lehman Brothers, state-supported fund the Malaysian Life Sciences Capital Fund, investment…
