Bellerophon Therapeutics lets almost all employees go, looks for deals in wake of PhIII flop

Less than a month af­ter ad­mit­ting fail­ure in a high­ly an­tic­i­pat­ed tri­al of its on­ly pro­gram, Bellerophon Ther­a­peu­tics is wav­ing the white flag.

The biotech’s board ap­proved lay­ing off “sub­stan­tial­ly all” of its em­ploy­ees, in­clud­ing its ex­ec­u­tive of­fi­cers, Bellerophon dis­closed in a Thurs­day fil­ing. CEO Pe­ter Fer­nan­des, VP of busi­ness op­er­a­tions Parag Shah and VP of en­gi­neer­ing and man­u­fac­tur­ing Mar­tin Dekker will all leave. Bellerophon had 18 full-time staffers at the end of 2022, ac­cord­ing to its an­nu­al re­port.

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