MetaMorphix Closes Canadian Subsidiary; Cuts Employees
10/20/2005 3:19:36 PM
BELTSVILLE, Md.--(BUSINESS WIRE)--Oct. 19, 2005--MetaMorphix, Inc. of Beltsville, Maryland has announced that it is in the process of closing its Canadian subsidiary, MetaMorphix, Canada, Inc. located in Saskatoon, Saskatchewan Canada. "While we regret having to take this action, we believe it is a necessary step in our drive to reduce operating costs. We appreciate all of the hard work and effort that our Canadian employees have brought to our immunopharmaceutical and growth factor technology platforms. They have been a wonderful addition to our team and we will greatly miss their efforts and our presence in Canada," remarks Edwin C. Quattlebaum, MetaMorphix, Inc.'s Chairman, CEO and President. "This reduction in workforce and the close of the Canadian facility will enable us to consolidate our Myostatin and other growth differentiation factor research efforts in our Beltsville headquarters while continuing our genomics research and development program at MMI Genomics, Inc., our Davis, California subsidiary."