Cell therapy biotech shifts focus to UK, makes deep cuts to US headcount
It’s been less than two months since Instil Bio revealed it would cut 60% of its US-based staff as the biotech scrapped its lead cell therapy to focus on next-gen efforts — but execs are already going for the next round of layoffs.
In an extension of its workforce reduction, Instil Bio is shrinking its US-based team to around 15 employees who will lead global business operations. It marks a stark move for a company that’s headquartered in Dallas and previously reported leasing offices in Greater Los Angeles as well as other parts of the US, and that counted more than 450 employees around the world just over a year ago.
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