By Ben Glickman
TC BioPharm Holdings has reached a deal for Fortrea to manage its global clinical trials, the latest cost-cutting effort by the clinical-stage biotech company.
Edinburgh, Scotland-based TC BioPharm has been looking to aggressively cut costs this year. In March, the company announced it would cut its workforce by up to 30% as it prioritizes its lead clinical programs in the U.S.
TC BioPharm said Thursday that the deal with Fortrea would allow for operating efficiencies and lead to better data management and review.
The company said it anticipated cost savings from using a single contract research organization.
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