Im­muno­Gen's new CEO re­trench­es, ax­ing 65 staffers and look­ing to thin pipeline

Im­muno­Gen’s new CEO is done as­sess­ing the com­pa­ny, and one of his first acts will in­volve swing­ing an ax.

The biotech $IMGN is elim­i­nat­ing 65 jobs, or 17% of the work­force Mark Enyedy in­her­it­ed when he won the job a few months ago. And he wants to li­cense out some “non-core” B-cell lym­phoma pro­gram, the com­pa­ny’s sec­ond-ranked ex­per­i­men­tal drug IMGN529 and coltux­imab rav­tan­sine, as he vows to pur­sue a “lean­er and more ag­ile” com­pa­ny.

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