Axing staff and shelving cancer programs, Selecta hopes laser focus on gout will prove a way out
As Werner Cautreels completes his retirement form Selecta Biosciences, new CEO Carsten Brunn is left on his own to start the year off with an unenviable charge: Execute a revamp that will claim 36% of the company’s workforce.
The layoffs will mainly hit the biotech’s oncology team, which slammed the brakes on a Phase I study of SEL-403 in the wake of a patient death and later a clinical hold. That drug, alongside the whole cancer pipeline, will now be “deprioritized” in favor of its lead drug, SEL-212 for chronic refractory gout.
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