Targeted Genetics Corporation is planning to restructuring of its operations to reduce expenses and realign resources to advance its lead product candidate, tgAAC94, through clinical trials as quickly as possible. tgAAC94 is the company's anti tumour necrosis factor alpha (TNF-a), product candidate for the treatment of inflammatory arthritis.

Going forward, the company is deploying the majority of its resources to identify the clinical utility of tgAAC94 and will also continue to utilise its development and manufacturing capabilities in moving its collaborations forward. As part of this restructuring, Targeted Genetics reduced its workforce by approximately 27% or 26 employees, primarily in early-stage research and development groups and in operations and general and administrative functions, states the company release.

Targeted Genetics Corporation is a biotechnology company that develops and commercialises innovative targeted molecular therapies for the prevention and treatment of inflammatory arthritis, HIV/AIDS and other acquired and inherited diseases with significant unmet medical need.