CAR-T biotech reduces staff as it hunts for capital to enter clinic next year
An eight-year-old Bay Area biotech looking to wade into the CAR-T cell therapy field has laid off staff to keep the lights on long enough to get into the clinic next year.
Chimera Bioengineering, a relatively small startup measured by the dozen, had raised about $26 million according to an April 2022 update, but ran into “difficulty” closing a new round of funding, which led the company to lay off 40% of its staff, according to an affected employee’s post on LinkedIn.
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