ALPHRETTA, GA – A Northeast biopharmaceutical company is relocating its headquarters to Alpharetta as part of a consolidation and corporate restructuring.
Rockdale, Md.-based Biota Pharmaceuticals, Inc. [NASDAQ: BOTA] focuses on the discovery and development of anti-infective products to prevent and treat a number of serious and potentially life-threatening viral and bacterial infectious diseases.
Biota is developing drugs aimed at treatment of respiratory syncytial virus (RSV) disease and Hepatitis C (HCV) virus infections. Biota also has an advanced program for the treatment of human rhinovirus (HRV) infection.
Biota will initially employ about 20 at its Alpharetta headquarters.
Biota is led by two former executives at Inhibitex — an Alpharetta-based clinical-stage drug development company acquired by Bristol-Myers Squibb Co.
CEO Russell Plumb was president, CEO and CFO of Inhibitex, a clinical-stage drug development company. Biota’s executive vice president, Joe Patti was a co-founder of Inhibitex, and served as its chief scientific officer.
The two executives joined Biota, following the merger of Nabi Pharmaceuticals and Biota Holdings Ltd.
As part of the restructuring, Biota will shift its primary focus from early-stage research to clinical-stage development programs that it could independently advance into late-stage development.
Biota is also cutting its workforce by about 30 percent over the next several quarters. The cuts will be focused on the R&D unit, but will include other business units.
Biota anticipates to take a $2 million charge in the fourth quarter of its 2013 fiscal year (ending June 30) related to the cost of one-time termination benefits. The company expects to save $3.8 million in annual salaries and benefits on an ongoing basis.