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.
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