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Healthcare

Vasogen to cut 85 pct of staff, shift focus

TORONTO, April 14 (Reuters) - Vasogen Inc VAS.TO said on Monday that it would cut its staff by 85 percent and suspend funding of studies for its Celacade heart failure treatment, as it shifts focus to a new area of drugs.

The company, which said the restructuring will cost about C$2.6 million in the second quarter, but would give it about two years worth of cash reserves. ($1=$1.02 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)

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