All entries for: IGM Biosciences - Mountainview

Sanofi has turned its back on its partner IGM Biosciences, forcing the small California biotech to enact drastic strategic measures, including an 80% reduction in force. The company disclosed the layoffs—and the closure of most of its remaining lab and office facilities—in an SEC filing May 8. It noted that the moves would preserve cash. According to its annual report, IGM had 149 full-time employees at the end of 2024. In January, the biotech reduced its workforce by 100 people, corresponding to 73% of its headcount, leaving it with 37 full-time staff. The new cuts leave IGM with around seven employees.