Biotech Firm Lets Workers Go While Waiting For FDA Approval

Franklin-based BioMimetic is getting rid of a quarter of its staff.

The company had hoped to gain FDA approval last year for its flagship product, a bone graft therapy called Augmentin. But now it looks like it will take another year or two for that approval to come through. In the meantime, the company can only sell Augmentin in Canada and Australia.

A document filed with the Securities Exchange Commission says the company will save 2 and a half million dollars a year by reducing its workforce.