Biotech diagnostics company Proteome Systems announced today that it will no longer pursue efforts to develop the portfolio of therapeutic compounds the company acquired through its 2005 merger with Eukarion. Although research will continue, Proteome's operations in Boston--its only U.S. location--will be closed within three months. According to the Australian company, this will save $550,000 per year, allowing them to allocate more resources to diagnostics products in the pipeline. Release