The commercialisation firm will cut cash operating expenses by more than 40% year-on-year, while SciFluor Life and Precision Biopsy received $9m in financing between them.
Commercialisation firm Allied Minds intends to pare back its operating costs by more than 40% year-on-year as it braces itself for what the firm described as “challenging capital markets” ahead.
Allied Mind’s headquarters cash operating expenses are expected to be $5.6m less than in 2018. The firm’s chief executive, Jill Smith, has agreed to reduce her cash salary for 24 months and defer the balance of her earnings until 2021.
Allied Minds reported holding $50m in cash stocks…
