-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Affected by the epidemic, the entire pharmaceutical industry has not been spared
in difficult economic times.
In recent years, the secondary market, whether it is the US stock NASDAQ, Hong Kong stock 18A or the science and technology innovation board, the trend is dismal; In the primary market, both the number of investments and the amount of investment are showing signs of
significant shrinkage.
Today, the pharmaceutical industry is considered to be in a cold winter, so "how to survive the winter" has become a key topic
.
As the most innovative biotech company in the pharmaceutical industry, how to survive and develop under the cold winter has become an unavoidable problem
.
For biotech companies, the most important thing is to survive, under this capital winter, "open source" can not be achieved, "throttling" has become the first choice for many biotech companies, through layoffs, restructuring, pipeline reduction, etc.
, to save operating expenses, reserve more cash flow, in order to survive the winter
.
In response, FierceBiotech, a world-renowned media, has launched a biotech layoff column to track layoffs in
global biotech companies.
Since January 2022, the layoff and restructuring information of more than 100 companies has been tracked and reported, and the layoffs of major enterprises in July ~ September are as follows for your reference
.
Past Review:
Layoff tracking in May~June: 2022 foreign biotech layoffs: Eisai, Novartis, Biogen, PACT.
.
.
January ~ April layoff tracking: 2022 foreign biotech layoff tide is coming, Merck, Biogen, Novartis, Sanofi, Gilead and other 46 companies are listed!
October, 3 companies (as of now)
October, 3 companies (as of now) Oct.
7, BioMarin: The big pharmaceutical company announced that it would cut 4 percent of its workforce, or 120 employees
.
The company's officially announced layoffs are to simplify the organization, improve efficiency and reduce management levels, but the real reason is to save costs, which will save about $50 million
a year from 2023.
Oct.
6, Cyclerion Therapeutics: This is the second time in two years that the biotech has adjusted its clinical development program to shift its focus to mitochondria-related diseases
.
This shift in priorities resulted in 45 percent of employees being laid off, leaving Cyclerion's total full-time workforce of just 16
.
Oct.
4, OncoSec Medical: To reduce operating expenses and extend cash reserves, the oncology company will cut 45 percent of its workforce to 18 people
.
At the end of April, the company had $19.
5 million in cash and equivalents, down from nearly $46 million
a year ago.
September, 6 companies
September, 6 companies On September 27, Exicure: The company announced another layoff
after a large number of executive departures.
The company announced it would shrink its team
by 66 percent.
The downturn dates back to December 2021, when the company disclosed that a senior researcher had misreported pre-assessment data
.
With this layoff, Exicure was close to bankruptcy and the company stopped all research and development work
.
Palisade Bio, September 15: The biotech company cut 20 percent of its workforce in an effort to stay afloat
.
The company is currently focusing its resources on the development of LB1148, which is also the company's only pipeline, a therapeutic drug
that assists postoperative GI function and prevents postoperative abdominal adhesions.
IMV, September 15: After being affected by the delisting of the Nasdaq in July, the oncology biotech company faces another blow: layoffs
.
IMV has embarked on a major strategic restructuring that allows it to focus on its primary oncology pipeline at the expense of one-third of its workforce
.
An IMV spokesperson did not provide the exact number of employees who would be affected, but said most departments would be affected
.
Sept.
13, Rubius Therapeutics: After reviewing human data on its lead drug candidate, the cell therapy biotech company concluded it would terminate research and development on two of its preclinical pipelines, resulting in the layoff of 75 percent of its workforce
.
As of the end of January, the company had 269 full-time employees, which means about 200 people will lose their jobs
.
September 13, ObsEva: The Swiss company is restructuring, laying off 70% of its employees, including chief strategy officer Katja Buhrer
.
According to ObsEva, the move will save $7.
6 million
annually.
Earlier, the FDA said in July that the company's uterine fibroid drug candidate, linzagolix, could not be approved
on time.
September 1, Finch Therapeutics: The microbiotech-focused biotech is preparing to lay off 37 percent
of its workforce.
The layoffs come a week after Takeda decided to return rights to two pipelines of preclinical inflammatory products that the two companies have worked with for many years, and this is the company's second layoff this year (the first in April this year).
September, 8 companies
September, 8 companies Mereo BioPharma, Aug.
31: Under pressure from an activist investor, the British biotech company has resorted to reducing its headcount to extend its cash reserves to the second quarter
of 2025.
Codiak BioSciences, Aug.
30: The Massachusetts-based biotech has cut its workforce to 53 full-time employees, laying off 37 percent of its workforce to focus on a newer, smaller R&D pipeline
.
The company is currently looking for more partners
.
August 24, PACT Pharma: CEO Scott Garland said the company suspended its only clinical trial and transferred 54 employees to a new "business development enterprise.
"
The 54 employees were part of
a 94 planned to be laid off at the end of August.
August 24, Aeglea BioTherapeutics: Aeglea lays off 25 percent
of its workforce after receiving a letter from the FDA rejecting its application for the rare disease drug pegzilarginase.
Anthony Quinn, the biotech company's CEO, will also be leaving the company
.
Aug.
18, Clarus Therapeutics: The company announced a 40 percent staff cut and cut certain R&D projects to combat debt and expressed "serious doubts"
about its ability to continue to grow.
As of June 30, Clarus had $19.
2 million in cash and cash equivalents, with a cumulative deficit of $347.
2 million
.
Aug.
15, Avanir Pharmaceuticals: California-based biopharmaceutical company Avanir Pharmaceuticals laid off 16 employees, a 13 percent
reduction from its current team of 115.
Permanent layoffs will take effect
on October 14.
August 9, Vedanta: Its CEO Bernat Olle blamed the microbiology-focused company for laying off 20 percent of its employees due to a "challenging economic environment in biotechnology.
"
On August 9, Absci: Its CEO Sean McClain released regretful news
about the "layoffs".
The biologics company did not disclose how many employees were affected
.
August 8, MacroGenics: MacroGenics is undergoing an organizational restructuring following the deaths of 7 patients in a Phase 2 trial that will result in 15% of its workforce being unemployed
.
August 8, Atara Biotherapeutics: The company has weathered difficult months
after interim studies of cell therapy for multiple sclerosis did not yield conclusive results.
Now, as the biotech company scales back its R&D focus, 20 percent of its employees will leave
.
Aug.
6, Zymergen: With Ginkgo announcing its acquisition of the company in July, Zymergen's employees may hope they won't be affected
by planned layoffs.
But a WARN document has confirmed that 74 of the biotech company's employees in California will lose their jobs
in September.
August 2, VBL Therapeutics: Less than two weeks after failing in a Phase III trial, VBL Therapeutics will cut 35 percent
of its workforce.
But even as the company seeks to stay afloat, money remains tight and available cash for another year
.
Aug.
1, Nuvation Bio: The biotech company will not only halt the development of one of its remaining oncology drugs, but will cut 35 percent of its workforce to keep money flowing for another 5 years
.
September, 7 companies
September, 7 companies July 21, Assembly Biosciences: The company acknowledged that its core inhibitor, vebicorvir, will fall short of expectations, so it is moving to an earlier drug candidate and will lay off 30% of its staff to maintain the remaining funding
.
July 21, X4 Pharmaceuticals: The company focused on immune system therapy is "streamlining resources" that will result in a 20 percent reduction in staff and terminating the company's oncology program
.
July 19, Inovio: The DNA drug company has laid off 18%
of its workforce as it struggles to push COVID-19 vaccines toward regulatory approval.
The organizational restructuring will help extend the biotech's cash until 2024
.
July 19, PACT Pharma: According to a state workforce report in California, PACT Pharma says it has laid off 94 employees and the remaining employees will work in two clinical phases of immuno-oncology
.
July 18, H3 Biomedicine: Eisai announced that it will permanently close its U.
S.
subsidiary, H3 Biomedicine, leaving about 88 people unemployed
.
The company said that since its establishment 12 years ago, the joint venture has completed its "mission" and related work will be transferred to the relevant organizations of Eisai
.
July 18, Biogen: Biogen's workforce in Massachusetts has gradually declined after unveiling a $1 billion cost-cutting plan in March, with 300 employees
laid off as of Monday's data.
July 13, CytomX Therapeutics: The company announced plans to reduce its 174 employees by 40%
following the failure of its antibody drug conjugate praluzatamab ravtansine in a triple-negative breast cancer phase 2 trial.
Adverum Biotechnologies, July 6, lays off nearly 40 percent of its workforce and will lay off 78 employees under a new restructuring plan that will focus resources on ixo-vec
, an age-related macular degeneration (AMD) treatment candidate.
Layoff tracking in May~June: 2022 foreign biotech layoffs: Eisai, Novartis, Biogen, PACT.
.
.
January ~ April layoff tracking: 2022 foreign biotech layoff tide is coming, Merck, Biogen, Novartis, Sanofi, Gilead and other 46 companies are listed!
Original link:
