Two Massachusetts-based biotechnology companies, Adecto Pharmaceuticals and Aviceda Therapeutics, have announced they are ceasing operations. Adecto Pharmaceuticals has officially closed its doors after struggling with fundraising in a risk-averse market. Aviceda Therapeutics is in the process of winding down its operations due to disappointing clinical trial results. Adecto's CEO expressed hope that the company's research could still be advanced. Both companies were developing novel therapeutic treatments.
Boston, Massachusetts
https://www.biospace.com/job-trends/2-massachusetts-biotechs-call-it-quits