Omega cuts 35% of workforce; Rhythm, CervoMed, Surrozen raise new funding

01 Apr 2024
endpts.com
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Plus: Trevena’s strategic review for its commercial drug, Algernon’s new focus and Antibe Therapeutics’ clinical hold.
Omega Therapeutics cuts 35% of workforce: The biotech had 93 employees at the end of 2023. Omega also prioritized its pipeline, but the move does not impact the pact it recently inked with Novo Nordisk. — Kyle LaHucik
Trevena seeks to offload commercial asset: The penny stock biotech says it has reduced commercial support to Olinvyk to preserve capital. It’s seeking strategic alternatives for the opioid drug. Instead, it will focus resources on its S1P receptor modulator, TRV045. — Amber Tong
Omega cuts 35% of workforce; Rhythm, CervoMed, Surrozen raise new funding
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Source: EndPoints
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