It was a good day for UniQure, a Dutch biotech company at work on gene therapies for rare diseases. A big pharma company had just made a billion-dollar investment in its future. Or so the headlines blared.
Eighteen months and two CEOs later, UniQure is laying off about a quarter of its staff, abandoning some of its would-be drugs — and running out of cash.
So what happened to that billion dollars? It never really existed.
