Cell therapy biotech shifts focus to UK, makes deep cuts to US headcount

01 Feb 2023
endpts.com
Cell TherapyPhase 1AcquisitionGene Therapy
It’s been less than two months since Instil Bio revealed it would cut 60% of its US-based staff as the biotech scrapped its lead cell therapy to focus on next-gen efforts — but execs are already going for the next round of layoffs. In an extension of its workforce reduction, Instil Bio is shrinking its US-based team to around 15 employees who will lead global business operations. It marks a stark move for a company that’s headquartered in Dallas and previously reported leasing offices in Greater Los Angeles as well as other parts of the US, and that counted more than 450 employees around the world just over a year ago. Going forward, Instil’s R&D and manufacturing work will be consolidated at its Manchester, UK, site. Execs say they now have enough money to stay afloat until 2026. Instil is also considering selling or subletting a manufacturing site in Tarzana, CA, as well as other facilities currently under lease, to bring in extra cash. Instil acquired the land and buildings in Tarzana in 2020 for $37.6 million, according to previous quarterly filings . The downsizing follows a decision to halt enrollment in a clinical trial for Instil’s most advanced tumor infiltrating lymphocyte (TIL) therapy due to manufacturing issues. After going through its options, Instil ultimately chose not to restart the trial, instead shuttering the ITIL-168 program and shifting to its engineered TIL platform instead. While Instil had paused a Phase I trial of its lead engineered TIL therapy, ITIL-306, out of caution when it stopped letting new patients into the ITIL-168 trial, the company recently resumed the trial, which is focused on lung, ovarian and renal cancer. A readout is expected in 2023. “I am confident in the ability of our Manchester team to progress ITIL-306 in the clinic, building on more than a decade of proven experience in manufacturing TIL, including our historical compassionate use program in metastatic melanoma,” CEO Bronson Crouch said in a statement. “The consolidation we announce today, while difficult, is consistent with our responsibilities as an early clinical phase company.” Shares of the company $TIL , which have fallen more than 80% over the past six months, ticked up slightly to $0.83 in after-hours trading.
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