Homology shutters development as genetic medicines biotech flashes ‘for sale’ sign, lays off 80 employees
Gene editing and gene therapy maker Homology Medicines is letting go nearly all of its staff, ending clinical development and searching for a buyer or other business exit, the Massachusetts biotech said after Thursday’s closing bell.
It marks another pullback for the field of publicly-traded gene therapy biotechs, following a similar move by Avrobio two weeks ago.
Homology will stop further development of its pipeline, which includes a gene editing program for the rare metabolism disorder phenylketonuria, or PKU, as well as gene therapies for PKU and a lysosomal storage disorder known as Hunter syndrome. Avrobio had also been exploring a gene therapy for certain forms of Hunter syndrome.
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