Generation Bio to lay off 68 employees in a difficult year for non-viral gene therapy biotechs
Genetic medicines maker Generation Bio will lay off 68 workers, including two members of its executive team, and will shrink its R&D scope to extend its runway by 18 months, CEO Geoff McDonough told Endpoints News.
Wednesday’s announcement of the 40% workforce reduction serves as another blow to the non-viral gene therapy field, which has seen private startups like Summation Bio and Intergalactic Therapeutics shutter this year (there have also been a few financings). Generation Bio formed in 2016 with the aim of delivering the first non-viral gene therapy and had hoped to be in the clinic last year, but poor animal data in 2021 set it back.
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