UPDATED: Flagship-backed microbiome company Kaleido Biosciences shuts down
Three months after initiating layoffs, hitting pause on a planned COPD study and terminating an agreement with the COPD Foundation, Kaleido Biosciences is now shutting down.
On Friday, the biotech’s board voted to “immediately wind-down and cease all of the Company’s ongoing operations,” according to an SEC filing. CEO Daniel Menichella, CFO William Duke, and CSO Johan van Hylckama Vlieg were let go immediately. Kaleido’s stock price $KLDO fell nearly 76% to about 36 cents apiece.
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