Nearly 70% of Akcea's workforce is on the chopping block as Ionis executes major restructuring
About half a year after reabsorbing its lipid-focused spinout Akcea, Ionis is now putting a major reorganization plan in play — one that involves shaving nearly 70% of the subsidiary’s workforce and expanding its distribution deal with Sobi.
Akcea began as a wholly-owned subsidiary back in 2014, before Ionis put about a quarter of its shares on the public markets. In its 2017 public debut, Akcea raised $125 million, plus another $50 million in a private placement with Novartis. Then in August, Ionis paid about $500 million — $18.15 per share — to buy that quarter back.
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