BERKELEY, Calif., Jan. 15, 2009 (GLOBE NEWSWIRE) -- XOMA Ltd. (Nasdaq:XOMA) announced that it will reduce its workforce by approximately 42 percent or 144 employees, a majority of which are in manufacturing. The company expects an annualized reduction of $27 million in cash expenditures when changes are completed in 2Q 2009. The Company remains staffed with 197 employees to develop XOMA 052, its anti-inflammatory antibody drug candidate for the treatment of Type 2 diabetes, develop and license technology and continue fully funded antibody discovery and development with its pharmaceutical partners in collaborations and the U.S. government in biodefense.
