Bristol Myers Squibb will lay off 57 workers from its Redwood City, California facility next month, according to a WARN notice filed on February 26. The latest layoff, first reported by Fierce Pharma, is part of a billion-plus-dollar cost-cutting program announced last year and expanded last month. BMS laid off more than two thousand employees in 2024 in total. According to BMS’ website, its Redwood City R&D campus is focused on the tumor microenvironment.
All entries for: Multiple
March 6, 2025
Bristol Myers Squibb
Layoffs
Princeton, NJ
10,001-50,000 employees
Disease Area: Multiple, Oncology
Drug Type: Biologic, Small Molecule
February 28, 2025
CRISPR Therapeutics
Layoffs
Switzerland
51-200 employees
Laying off an undisclosed number of employees.
Disease Area: Chronic Disease, Multiple, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
February 13, 2025
Kojin Therapeutics
Discontinued Research
Boston, MA
1-50 employees
“Kojin Therapeutics will be restructuring and winding down its operations in the coming months. Since last year, with a new leadership team in place, we have made striking progress in developing first-in-class, small-molecule, ferroptosis inducers for potential use in patients with cancer and autoimmune diseases. However, obtaining sufficient funding to propel these programs forward into IND-enabling studies and clinical trials has proven difficult to achieve.”
1 Discontinued Research Program
Disease Area: Chronic Disease, Immune Diseases, Multiple, Oncology
Drug Type: Small Molecule
February 5, 2025
X4 Pharmaceuticals
Layoffs
Boston, MA
51-200 employees
43 employees laid off. All pre-clinical programs paused.
Disease Area: Immune Diseases, Multiple, Neurological Diseases, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
February 4, 2025
Bristol Myers Squibb
Layoffs
Princeton, NJ
10,001-50,000 employees
67 employees laid off in New Jersey.
Disease Area: Immune Diseases, Multiple, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
January 28, 2025
I-Mab
Layoffs
Rockville, MD
201-500 employees
27% reduction in workforce.
Disease Area: Immune Diseases, Multiple, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
January 10, 2025
IGM Biosciences
Discontinued Drug, Discontinued Research, Layoffs
Mountain View, CA
201-500 employees
“Staff cuts will leave IGM Biosciences with 37 employees. The company is also halting development of two bispecific antibody T cell engagers for autoimmune diseases.
IGM Biosciences is cutting 73% of its workforce and stopping development of two autoimmune drug candidates, the biotech announced Jan. 9…
Regarding its pipeline, IGM is halting work on imvotamab and IGM-2644, bispecific antibody T cell engagers for autoimmune diseases. In the company’s announcement, IGM CEO Mary Beth Harler said interim data from Phase Ib studies of imvotamab in rheumatoid arthritis and systemic lupus erythematosus showed that the depth and consistency of B cell depletion didn’t meet the biotech’s bar for success. She noted that IGM would discontinue IGM-2644 due to strategic considerations.
The biotech is also considering its next business move so it can maximize shareholder value, in part by evaluating “internal options as well as potential strategic alternatives,” according to the release, which stated that IGM has about $183.8 million in cash and investments as of Dec. 31.”
1 Discontinued Drug: IGM-2644, bispecific antibody T cell engager for autoimmune diseases
1 Discontinued Research Program
Disease Area: Chronic Disease, Immune Diseases, Multiple
Drug Type: Biologic
January 8, 2025
Galapagos
Discontinued Research, Layoffs
Cambridge, MA
1,001-5,000 employees
“To advance its goal of becoming a global leader in cell therapy in oncology, Galapagos plans to discontinue its small molecule discovery programs and seek potential partners to take over its small molecules’ assets, including the TYK2 inhibitor, GLPG3667, currently in Phase 2 for systemic lupus erythematosus, dermatomyositis, and other potential auto-immune indications.”
2 Discontinued Research Programs
Disease Area: Chronic Disease, Immune Diseases, Multiple
Drug Type: Small Molecule
December 31, 2024
Kiora Pharmaceuticals
Negative Outlook
Encinitas, CA
1-50 employees
“Current laws, as well as other healthcare reform measures that may be adopted in the future, may result in more rigorous coverage criteria and in additional downward pressure on the price that we receive for any approved product.”
Disease Area: Immune Diseases, Multiple, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
December 10, 2024
Belharra Therapeutics
Layoffs
San Diego, CA
1-50 employees
“San Diego startup Belharra Therapeutics, a biotech creating small molecule cancer and immunology medicines, has laid off 21 employees, Endpoints News has confirmed…
The employee cuts are expected to allow Belharra to extend its runway to achieve “key inflection points” while alleviating capital raise pressures, according to a spokesperson’s emailed statement to Endpoints. That spokesperson also wrote that the biotech will continue advancing its lead programs and working with partners Genentech and Sanofi.”
Disease Area: Immune Diseases, Multiple, Oncology
Drug Type: Small Molecule
