Gene Logic Restructures

A three-month business review by Gene Logic, has confirmed the potential of its drug repositioning and restructured genomics units. According to a company statement, its genomics assets are a key part of the technology platform used in its drug repositioning business. The company is exploring the possibility of using the assets and technologies in areas such as clinical biomarker development and molecular diagnostics.

According to Gene Logic, the review revealed that its prior strategy for turning around the deteriorating genomics business would not reverse declining sales. Also, the restructuring of the unit — including eliminating half of its work force and cutting spending — has left the business focused on core competencies.

The business review has also confirmed the potential of its drug repositioning business, seeking to revive high-quality drug candidates stalled in clinical development for reasons other than toxicity, according to the company.