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Drug company EpiCept Corporation has said it is slashing 17 jobs and discontinuing drug research to cut costs by $5.5 million a year.

 

Eight full-time and two part-time jobs in San Diego will be cut immediately with another seven jobs cut over the next few months, the company said.

 

According to a company statement, the cuts represent a 65 percent work force reduction. It also plans to focus on clinical trials and on getting a new drug, Ceplene, registered in the United States.

 

EpiCept said the measures are necessary due to difficulties in obtaining financing.

 

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