Northfield Laboratories Biotech Closes after Thumbs down from the FDA for Blood Substitute
Posted May 09 2009 10:41pm
20 years of work on a blood substitute now gone. The website stated it had potential battle field as well as emergency use. The clinical trial section was a little unclear on how it worked. It is not meant to be a permanent substitute, just three to save a life until regular blood can be found. BD
EVANSTON, Ill., May 9 (UPI) -- An Illinois experimental biotech company says it's closing its doors after failing to win U.S. government approval for its blood substitute.
Northfield Laboratories Inc. ( NASDAQ:NFLD ), of Evanston, Ill., said Friday it is virtually ending its operations, saying it had "terminated the employment of substantially all of its operational and staff employees," The Chicago Tribune reported.
The newspaper said Northfield had been working for 20 years on a blood substitute designed for trauma patients. But the U.S. Food and Drug Administration declined to approve its product last week, dealing an apparently fatal blow to the biotech firm.
Company officials indicated Northfield has burned through $220 million since its inception in 1985 trying to develop the blood substitute.