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Posted AT 9:51 AM EST on 03/07/08

Vasogen halts spending on series of drugs

The Canadian Press

MISSISSAUGA, Ont. — Vasogen Inc. is halting spending on a series of drugs including one aimed at Lou Gehrig's disease as it struggles to preserve cash while “exploring strategic alternatives.” The drug developer, whose stock price has fallen 90 per cent in the past year, put itself on the block in April and announced it was cutting its work force by 85 per cent, leaving 15 employees.

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