Generation Bio to lay off 68 employees in a difficult year for non-viral gene therapy biotechs
29 Nov 2023
Gene Therapy
Genetic medicines maker Generation Bio will lay off 68 workers, including two members of its executive team, and will shrink its R&D scope to extend its runway by 18 months, CEO Geoff McDonough told
Endpoints News
.
Wednesday’s
announcement
of the 40% workforce reduction serves as another blow to the non-viral gene therapy field, which has seen private startups like
Summation Bio
and
Intergalactic Therapeutics
shutter this year (there have
also been
a few
financings
). Generation Bio formed in
2016
with the
aim of delivering
the first non-viral gene therapy and had hoped to be in the clinic last year, but poor animal data in 2021
set it back
.
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