DelSite Inc. (DSII.OB) said that it has terminated its manufacturing operations at its Irving, Texas facility. Continuation of non-manufacturing domestic operations and manufacturing at its Costa Rican plant is contingent on new funding.
In addition, the company stated that its unit, DelSite Biotechnologies Inc., received the FDA approval to initiate a phase I clinical study of the company's lead product candidate GelVac nasal powder H5N1 (bird flu) influenza vaccine.
Once developed, this vaccine system can significantly improve and reduce the cost of individual vaccines as well as reduce the cost of stockpiling strategic vaccines, the company noted.
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