Gene ther­a­py biotech Lo­can­abio to shut­ter by year’s end

Gene ther­a­py biotech Lo­can­abio will shut down by the end of this year, the start­up’s CEO post­ed on LinkedIn Wednes­day af­ter­noon.

“While we con­tin­ue to be­lieve in the po­ten­tial of our RNA-tar­get­ed gene ther­a­py plat­form to de­liv­er trans­for­ma­tive ther­a­pies, the de­ci­sion was made due to the time and cap­i­tal re­quired to de­liv­er clin­i­cal da­ta in the cur­rent chal­leng­ing fund­ing en­vi­ron­ment,” CEO Jim Burns wrote in the post. Burns joined the com­pa­ny in 2019 af­ter lead­ing Case­bia Ther­a­peu­tics and, be­fore that, head­ing up R&D at Sanofi.

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