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Trimeris announces 2008 strategic plan
January 2008
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MORRISVILLE, N.C.—Trimeris Inc. has implemented a strategic plan for 2008 that is designed to maximize cash flows from Fuzeon while also advancing TRI-1144 to a value-creating milestone—as well as eliminate R&D. The company plans to file an IND application for TRI-1144, it's next-generation fusion inhibitor, as well as initiate and complete a single ascending dose Phase I clinical trial for TRI-1144 in the first half of the year.
 
In connection with the 2008 plan, Trimeris has immediately implemented a program to reduce the company's workforce. Following the completion of the Phase I SAD study for TRI-1144, Timeris expects that it will no longer staff any research or development functions. As a result, total operating expenses, excluding restructuring costs, are expected to be in the range of $10 million to $14 million in 2008, down from approximately $21 to $23 million in 2007.

"While market conditions and the significant risks involved in research and development have required the company to shift strategic direction, Trimeris still possesses significant financial assets that include substantial cash and revenue streams from the sale of Fuzeon in collaboration with Roche," says Martin Mattingly, CEO of Trimeris."In addition, we believe that TRI-1144 has the potential to be a valuable product for the treatment of HIV."
 

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