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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