Bellerophon Therapeutics lets almost all employees go, looks for deals in wake of PhIII flop

Less than a month after admitting failure in a highly anticipated trial of its only program, Bellerophon Therapeutics is waving the white flag.

Peter Fernandes

The biotech’s board approved laying off “substantially all” of its employees, including its executive officers, Bellerophon disclosed in a Thursday filing. CEO Peter Fernandes, VP of business operations Parag Shah and VP of engineering and manufacturing Martin Dekker will all leave. Bellerophon had 18 full-time staffers at the end of 2022, according to its annual report.

Bellerophon revealed earlier this month that INOpulse, its device for administering inhaled nitric oxide, flunked a Phase III trial for fibrotic interstitial lung disease — the latest in a streak of disappointing results over the years. Only this time, the company decided not just to terminate the trial in question, but also withdraw patients from all other ongoing…
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