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Alliance Cuts Staff, Pressures Venture For Oxygent Funding

By Brady Huggett

Friday, August 30, 2002
Alliance Pharmaceutical Corp. has spent more than $200 million developing its intravascular oxygen carrier, Oxygent. But now facing a revised development plan that it cannot afford, Alliance cut 40 percent of its work force and warned PFC Therapeutics LLC, the joint venture set up to commercialize the product, that if funds don't materialize, the Oxygent license agreement will be terminated and the joint venture dissolved. (Bioworld Today)

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