Gliatech mulls options and bankruptcy
This article was originally published in Clinica
Gliatech, which develops biosurgery products aimed at inhibiting scarring and adhesions after surgery, is considering its strategic options, including the sale of its Adcon line of products. The company concedes that any proceeds are unlikely to provide sufficient resources to fund operations and that it will probably have to file for bankruptcy protection. Gliatech is also making a "signigicant reduction" in its workforce.