Selecta lets go 25% of workforce, pauses PhI/II gene therapy trial
Selecta Biosciences, which is developing immunotherapies and gene therapies, is cutting its workforce by 25% and pausing development of its wholly-owned gene therapy programs.
The company announced the workforce reduction and a clinical trial pause on Thursday during its first-quarter earnings report, saying the actions would extend the biotech’s cash runway into the first half of 2025.
It now plans to focus on the licensing deal it struck with Sobi in 2020 for its gout candidate, and advancing its precision immune tolerance platform.
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