Benev­o­len­tAI lays off around 180 staffers, cuts pipeline pro­grams in re­org

Lon­don-based AI drug dis­cov­ery com­pa­ny Benev­o­len­tAI is lay­ing off about 180 em­ploy­ees as part of a re­struc­tur­ing plan that re­sult­ed from a strate­gic re­view.

By slash­ing the head­count, re­duc­ing its lab foot­print and halt­ing cer­tain drug pro­grams, Benev­o­len­tAI hopes to free up more than $55 mil­lion (£45 mil­lion) and ex­tend the cash run­way from Q4 2024 in­to Ju­ly 2025, even with­out new rev­enue. Amid the changes, CFO Nicholas Ke­her has al­so re­signed.

To read Endpoints News become a free subscriber

Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters

SIGN UP LOG IN