Spero Therapeutics is laying off approximately 75 percent of the company’s workforce as part of a restructuring operation in light of the U.S. Food and Drug Administration’s expected rejection of Spero’s New Drug Application (NDA) for bacterial diseases.
Gemini Therapeutics, a clinical-stage biopharma company dedicated to developing treatments for genetically defined age-related macular degeneration (AMD), announced a series of corporate updates. Among these is a corporate restructuring that will see 80 percent of the company’s workforce laid off.
It’s not unusual for biopharma companies to end the year with a restructuring that includes job cuts. Rigel Pharmaceuticals announced a 16 percent reduction of the company’s workforce, most in early research.
Cambridge, Massachusetts-based Unum Therapeutics announced a restructuring in order to shift assets toward the company’s preclinical program, BOXR1030, for solid tumors.
Boston Scientific Corp. forked over up to $160 million to acquire California stent maker Veniti Inc. The deal marks the third acquisition for Boston Scientific in two months.
Sanofi Genzyme, the French company’s rare-disease division based in Cambridge, Mass., announced it is laying off 130 people at a manufacturing facility in Boston.
Following a failed Phase III vaccine for stem cell transplant recipients, San Diego-based Vical Incorporated is slashing 54 percent of its employees and focusing the company’s remaining resources on two mid-stage candidates.