Layoffs
The agreement would have created a spin-off gene therapy company and merged it with ARYA IV to create a new, publicly-traded entity called Caritas Therapies.
In addition to massive layoffs – around 60% of its workforce – Yumanity also said it is considering “strategic alternatives” to its financial woes, including the possibility of selling or merging.
On Thursday, Unity Biotechnology announced that it is cutting 50% of its workforce, mainly in the research department.
As part of a company-wide workforce reduction, it will cut its employee headcount by at least 25% by the end of the year, and 50% of its senior management team are leaving the company.
The job cuts were announced as part of an organizational streamlining initiative that will refocus resources toward the company’s highest-value activities.
Daiichi wants to maximize its investment in three antibody-drug conjugates, which the company has positioned as one of the strategic pillars of its 5-year Business Plan.
Pfizer is cutting its sales staff as physicians and healthcare facilities prefer fewer face-to-face interactions with vendors due to the COVID-19 pandemic.
When 2022 rolls around in a little more than a week, some Genentech employees will begin the new year in search of a new job.
The company could lay off as many as 1,000 employees as it continues to deal with the controversial treatment.
vTv Therapeutics said that the funds it saves through this process will allow it to focus on the Phase III development of TP399 and the company’s future growth.
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