Laying off up to 17 employees.
All entries for: Biologic
February 3, 2025
Omega Therapeutics
Layoffs
Cambridge, MA
51-200 employees
Drug Type: Biologic, Small Molecule
February 3, 2025
Viracta Therapeutics
Layoffs
Cardiff, CA
1-50 employees
Company closed and laid off all staff.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
January 28, 2025
I-Mab
Layoffs
Rockville, MD
201-500 employees
27% reduction in workforce.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
January 27, 2025
Allakos
Layoffs
51-200 employees
75% reduction in workforce.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
January 22, 2025
Biogen
Layoffs
Cambridge, MA
5,001-10,000 employees
Laying off an undisclosed number of employees.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
January 20, 2025
Daiichi Sankyo
Discontinued Research
Basking Ridge, NJ
10,001-50,000 employees
A study on the efficacy of DS-2325a for patients with Netherton Syndrome was terminated based on a business decision by the sponsor.
1 Discontinued Research Program
Disease Area: Rare Diseases
Drug Type: Biologic
January 13, 2025
Apellis
Layoffs
Waltham, MA
501-1,000 employees
Laying off about 40 non-U.S. employees.
Disease Area: 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 10, 2025
Y-mAbs Therapeutics
Layoffs
New York, NY
51-200 employees
Y-mAbs anticipates a reduction in its current workforce of up to approximately 13%.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
January 10, 2025
Passage Bio
Layoffs
Philadelphia, PA
51-200 employees
This transition, coupled with an associated reduction in workforce of approximately 55% and reductions in operating expenses, is expected to extend cash runway into the first quarter of 2027.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
