Up­dat­ed: EQRx aban­dons its mis­sion of drug price re­form, will cut more than half of em­ploy­ees

EQRx’s plan to up­end the US drug price sys­tem with low­er-cost treat­ments is over.

On Mon­day, it an­nounced a mas­sive strate­gic re­set, slash­ing its pipeline down to one drug and let­ting go ap­prox­i­mate­ly half its staff.

“We tried to change the sys­tem; maybe that was a stretch,” founder and EQRx ex­ec­u­tive chair Alex­is Borisy told End­points News in an in­ter­view. “It was cer­tain­ly a bold thing to try to go do, and it wasn’t to be.”

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