Skip to main content

Biotech job cuts tend to happen late in the quarter, and the end of this first quarter is no different. Keep reading for news from four biotech companies laying off this week.

BridgeBio confirms layoffs

About two months ago, BridgeBiothen Regional Medical Director, Mary Hames, Ph.D., Noted on LinkedIn, that, “Due to disappointing clinical data on another program, Bridge had to trim our team (and many others) today.” Hames said she was on the market now.

BridgeBio has confirmed the job cuts with BioSpace. The company’s founder and CEO, Neil Kumar, said: “This is part of a necessary and ongoing process of cost reduction. We are sorry to see our colleagues go – many of whom have contributed significantly to our mission to serve patients. »

On January 26, 2021, the company carried out a merger with Eidos Therapeutics. BridgeBio said at the time that it had enabled “BridgeBio to deploy its entire clinical and commercial infrastructure to support the ongoing development and global commercialization plans for Eidos’ acroamidis, a potential first-in-class therapy for patients with transthyretin (TTR) amyloidosis (ATTR).”

A little earlier, at the end of December, BridgeBio reported puzzling data from Part A (month 12) of its phase III ATTRibute-CM trial of acoramidis for symptomatic transthyretin (TTR) amyloid cardiomyopathy (ATTR-CM). It failed in the study arm, specifically with an observed mean decrease in 6-minute walking distance (6MWD) at Month 12 in patients receiving drug or placebo with a baseline eGFR ≥ 30 ml/ min/1.72 m2 were 9 meters and 7 meters, respectively.

What was puzzling was that the healthy older adults performed surprisingly well, even by historical standards, with a decline of more than 70% compared to the AATR-ACT treatment group.

Silverback to reduce workforce by 27%

Thusday, Silverback Therapeutics Announced plans to lay off 27% of its workforce. The company has 90 employees. The Seattle-based company is closing its oncology programs after reporting poor clinical results for its lead compound for solid tumors. He turns to treatment for hepatitis B.

“Over the next few days and weeks, we are restructuring our workforce and allocating resources around our new strategic priorities,” Silverback CEO Laura Shawver told investors on a conference call.

The Company’s ImmunoTAC technology platform uses antibodies to deliver disease-modifying compounds to sites of disease. Its lead cancer program, SBT6050, provides a TLR8 agonist to solid tumors such as breast or lung cancer. Silverback was evaluating the drug alone and in combination with Merck’s Keytruda (pembrolizumab) checkpoint inhibitor in a Phase I/Ib trial, but it demonstrated “limited” anti-tumor activity. And with Keytruda, the toxicity levels precluded higher doses.

He hopes to submit an IND application in the United States Food and Drug Administration (FDA) for a study on hepatitis B by the end of the year.

Taysha reduces its workforce by 35%

As announced yesterday, Announcing Taysha Gene Therapies plans to cut 35% of its workforce. He will refocus his efforts on Rett syndrome and giant axonal neuropathy (GAN). It is also suspending all additional R&D activities in order to increase the efficiency of its main programs. Taysha will continue clinical development for CLN7 Batten Disease, for which she is partnered with UT Southwestern and funded by the Children’s Medical Center Foundation.

“We are refining our strategic direction to prioritize key programs focused on value-added registration in GAN, which has an estimated addressable patient population of 5,000 worldwide, and Rett syndrome, which affects more than 350,000 patients worldwide,” said RA Session II, President, Founder and CEO of Taysha. “To increase operational efficiency, the activities of other ongoing clinical programs will be minimized and further research and development will be discontinued. As a result, we have reduced our workforce by approximately 35%. Our strategic pipeline prioritization, along with existing cash and funding under our current credit facility, is expected to extend the cash trail through the fourth quarter of 2023.”

Bone Therapeutics Cuts and C-Suite Moves

March 29, based in Belgium Bone Therapeutics Announced it was “redefining its strategic priorities” to focus on its allogeneic cell therapy platform, ALLOB. This program is in a phase IIb trial in patients with high-risk tibial fractures. He expects top-notch results in the first quarter of 2023.

To continue, it has moved all of its R&D activities to support it, while all others, clinical or preclinical, will be halted. He announced his management team would be leaving, including chief executive Miguel Forte, chief science officer Tony Ting, chief commercial officer Stefano Theoharis and chief financial officer Lieve Creten. Forte will remain for the transition. In addition, all non-executive directors have suspended their remuneration for the first quarter of 2022 until further notice.

The ALLOB trial will be overseen by Dr. Anne Leselbaum, Chief Medical Officer, and Anne-Sophie Lebrun, Ph.D., Chief Operating Officer.

The Company’s technology is a ready-to-use allogeneic cell therapy comprised of human allogeneic bone cells derived from cultured bone marrow mesenchymal stromal cells from healthy adult donors.