Rubius fails to find alternative as board approves dissolution
Rubius Therapeutics’ struggles will come to an end in the near future as the company’s board approved a plan of liquidation and dissolution of the one-time spotlight at biotech incubator Flagship Pioneering.
The biotech said its board approved the plan on Presidents’ Day, with a special meeting of Rubius’ stockholders being lined up to seek a green light, per an SEC filing Wednesday morning.
Rubius set out to turn red blood cells into cell therapies, tampering with the oxygen carriers via genetic engineering to carry proteins in a battle against various diseases. The goal was to make them off-the-shelf as well, meaning the therapies would come from the cells of other patients, reducing time to manufacture and transport them as compared to the cell therapies already on the market.
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