Tom Anderson, SwanBio Therapeutics CEO

Scoop: Af­ter fail­ing to se­cure more funds, a pri­vate gene ther­a­py de­vel­op­er lays off staff

Last Fri­day, Swan­Bio Ther­a­peu­tics laid off about one-quar­ter of its 60-per­son work­force, a per­son with knowl­edge of the mat­ter told End­points News.

The gene ther­a­py biotech was un­able to se­cure an ad­di­tion­al round of fi­nanc­ing in the first quar­ter af­ter in­vestors backed out of the round, ac­cord­ing to the source, who spoke on con­di­tion of anonymi­ty. It’s been 24 months since the Philadel­phia-area biotech dis­closed it had ex­pand­ed its Se­ries A to bring to­tal fi­nanc­ing to $77 mil­lion.

Endpoints News

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