Monday, January 5, 2009

Northstar Neuroscience Shuts Down

Seattle-based Northstar Neuroscience said late Monday morning that the firm plans to shut down, and will liquidate the company's assets. The firm, which was looking to develop medical devices to treat major depressive disorder, said its board considered potential strategic alternatives and decided it was in the best interest of the company to liquidate the firm. The firm did not say how many employees the shutdown would affect, only that a "limite number" of employees will continue to assist in termination of the firm's operations.