Sana, Codex­is lay off staff, reshuf­fle pipeline in bid to fo­cus cell ther­a­py, en­zyme en­gi­neer­ing work

As its mar­ket cap shrinks to a frac­tion of its hey­day, flashy cell ther­a­py start­up Sana Biotech­nol­o­gy is lay­ing off 15% of its staffers in a move to re­jig the pipeline and re­struc­ture the com­pa­ny.

Sana is among a grow­ing group of biotechs that, feel­ing the weight of a broad­er mar­ket down­turn and see­ing their shares tum­ble steadi­ly, are tight­en­ing the purse strings and ad­just­ing their fo­cus. Al­so on Tues­day, Codex­is, an en­zyme en­gi­neer­ing com­pa­ny based in Cal­i­for­nia and now helmed by for­mer Sier­ra On­col­o­gy CEO Stephen Dil­ly, an­nounced it will re­duce the work­force by 18%.

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