Cit­ing 'chal­leng­ing eco­nom­ic en­vi­ron­ment,' PhI­II-ready mi­cro­bio­me biotech lays off 20% of staffers

The mar­ket down­turn isn’t just sweep­ing up pub­lic biotechs.

Vedan­ta Bio­sciences, a de­vel­op­er of oral drugs de­rived from the hu­man mi­cro­bio­me, is lay­ing off about 20% of its staff — an un­for­tu­nate­ly com­mon oc­cur­rence these days. But CEO Bernat Olle took the un­usu­al step of shar­ing the de­ci­sion on LinkedIn and of­fer­ing to con­nect the em­ploy­ees be­ing let go with any com­pa­ny that’s hir­ing in their ar­eas.

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