November 27

KronosBio announced that, in order to cut costs, it will reduce its workforce by approximately 83% by the end of this year. After the layoffs, the California-based biotech company will have around 10 employees remaining. The company also terminated the development of its CDK9 inhibitor, istisociclib, after disappointing Phase I/II data for platinum-resistant high-grade serous ovarian cancer.

November 27

Novartis announced it will lay off nearly 140 people from its New Jersey facility. Layoffs will begin in February 2025 and continue until August. These layoffs will primarily affect the commercial sales teams for Xolair, Tafinlar, and Mekinist. At the same time, Novartis is increasing investments in its product pipeline, including a potential $1 billion acquisition of gene therapy specialist Kate Therapeutics to deepen its neuromuscular expertise, as well as a radioactive drug deal with Ratio Therapeutics, potentially worth up to $745 million.

November 27

According to STAT News, Recursion Therapeutics, just a few months after announcing its merger with AI leader Exscientia, revealed it would lay off dozens of employees. The merger, which was first announced in August 2024, created a company with approximately $850 million in cash and cash equivalents, along with $100 million in annual synergies, supporting operations through 2027. In addition to 10 senior discovery projects and more than 10 partnerships, the merged company is considering over 10 clinical and preclinical pipeline projects. Clinical trial results for its drug candidates are expected within the next 18 months.

November 26

In order to seek resources to support its operations through 2026, Medigene, a German biotech company, launched an extensive organizational restructuring. Approximately 40% of its workforce will be laid off in 2025. According to a company press release, it will retain employees critical to its new direction, focusing on R&D activities with the highest return on investment potential. Medigene will concentrate its resources on developing T-cell receptor (TCR)-guided therapies optimized for sensitivity, specificity, and safety. The company will also prioritize its collaboration with WuXi Biologics to develop its TCR-guided T-cell conjugate MDG3010.

November 26

Alector announced disappointing Phase II results for its Alzheimer's antibody AL002, leading to the layoff of 41 employees, approximately 17% of its workforce. Layoffs will occur in the first half of 2025. This is part of a broader restructuring plan as Alector aligns its resources with a new strategic focus. The company will prioritize its granular protein precursor projects, latozinemab and AL101/GSK4527226, which are being developed for frontotemporal dementia and Alzheimer's disease, respectively.

November 26

To reduce expenses by approximately $1.5 billion in 2025, Bristol Myers Squibb (BMS) announced plans to lay off about 195 employees at its Lawrenceville, New Jersey facility. Layoffs will begin on February 13, 2025, and continue until the end of the year. BMS first announced its comprehensive strategic plan in April 2024, which included cutting around 2,200 jobs by the end of the year. CEO Chris Boerner stated that these business adjustments would help BMS become "more agile" and "improve efficiency across the company."

November 22

According to Fierce Biotech, Sonata Therapeutics will streamline its organization around its most pressing and prioritized initiatives, laying off about 20 employees. The company has been developing a new class of therapies known as network drugs, aimed at reprogramming diseased cells to release therapeutic signals. In March of this year, Sonata announced a collaboration with the Champalimaud Foundation to develop SNT-3012, a novel network drug designed to treat pancreatic cancer and colorectal cancer.

November 22

After announcing the layoff of over 200 employees, 23andMe will lay off 153 employees in California and close its South San Francisco facility. This layoff may be part of the previously announced cuts. The genetic testing company will lay off 122 employees in Sunnyvale and 31 employees in South San Francisco starting January 10.

November 21

Due to increasing competition from China, both Johnson & Johnson (J&J) and Merck are laying off employees in the country. J&J's layoffs mainly affect a division that sells surgical products, while Merck is cutting jobs in its diabetes division. Chinese media reported that J&J's layoffs could affect up to one-fifth of its employees in mainland China. The number of affected Merck employees has not yet been reported. Additionally, J&J has laid off 231 employees at its New Brunswick, New Jersey headquarters. These cuts will take effect on December 27.

November 18

According to WARN notices, Gilead Sciences and its subsidiary Kite Pharma are laying off 72 employees. Starting January 17, Gilead will close its Seattle facility. On March 14, 2025, it will lay off 104 employees at its Foster City, California headquarters. Kite Pharma will close its Philadelphia facility by mid-2025. The layoffs are part of a corporate realignment to further align resources with long-term strategic goals.

November 18

Adaptimmune announced it will lay off about 33% of its workforce in the first quarter of 2025 to reduce its overall operating costs by about 25%. Additionally, Adaptimmune will terminate recruitment for the Phase II SURPASS-3 trial of uza-cel, its next-generation TCRT cell therapy targeting platinum-resistant ovarian cancer. From 2025 to 2028, Adaptimmune expects to save about $300 million, which will allow the company to focus on its synovial sarcoma business, including the development of Tecelra and lete-cel.

November 14

On November 14, clinical-stage biotech company Sensei Biotherapeutics announced it would lay off 46% of its workforce to concentrate resources on advancing its immune checkpoint inhibitor SNS-101 through clinical development. Most of the layoffs will come from its preclinical R&D team. The company, headquartered in Rockville, Maryland, will also close its Rockville research facility. These moves are expected to extend Sensei's cash runway until the second quarter of 2026.

November 14

Marinus Pharmaceuticals announced it would lay off about 45% of its workforce due to disappointing Phase III results for ganaxolone in treating seizures associated with tuberous sclerosis complex. This marks the second known layoff for the company this year. In May, Marinus announced it would lay off about 20% of its workforce. With the layoffs in May and November, the company may have around 73 employees remaining.

November 13

According to STAT News, Orna Therapeutics is laying off employees for the second time in a year, though the exact number was not disclosed. The company is also realigning its product pipeline. Orna's in vivo CAR platform, panCAR, aims to treat autoimmune and oncological diseases by combining its oRNA technology with proprietary lipid nanoparticles to modify immune cells. The company hopes to bring its panCAR candidates into clinical trials by 2026.

November 12

23andMe announced it would lay off over 200 employees, approximately 40% of its workforce. The layoffs are due to the company halting the development of new therapies and instead focusing on its genetic testing services and products in order to simplify operations and reduce costs. The layoffs are expected to cost the company up to $12 million, including severance, transition, and termination-related expenses. In return, 23andMe expects to save more than $35 million annually.

November 11

Thermo Fisher Scientific, based in Wilmington, will lay off 160 employees across three sites in Lexington, Plainville, and Cambridge, Massachusetts, between January 6, 2025, and November 6, 2026. Thermo Fisher will close its Lexington plant and transfer projects to Plainville.

November 7

Aurinia Pharmaceuticals announced that it will lay off approximately 45% of its workforce as part of a strategic restructuring to develop its lupus nephritis drug Lupkynis and rapidly advance its autoimmune disease candidate AUR200. This is the second known layoff for Aurinia this year. In February, the company announced a layoff of at least 25% of its workforce. The restructuring will improve operational efficiency and save over $40 million annually.

November 7

In order to focus more on its lead product nana-val for lymphoma patients, Viracta Therapeutics, based in Cardiff, California, announced it would lay off 42% of its workforce. The layoffs took effect on October 31. Four out of the company's 10 directors voluntarily resigned. After the layoffs, Viracta will have approximately 18 employees remaining.

November 6

According to WARN notices, Angesai Gene Therapy will lay off 10 employees as it continues the gradual shutdown of its biomanufacturing facility in San Francisco. The facility closure is expected to be completed by March 2025, affecting about 100 employees. It is unclear how many employees will be laid off, but layoffs have been ongoing since a few months ago. On October 21, 7 employees were laid off, and on June 19, 10 employees were let go.

November 5

Sana Biotechnology announced that due to pipeline shifts and other initiatives aimed at extending its cash runway, the company will lay off an unspecified number of employees. In 2023, Sana laid off about 120 employees (29%) due to a focus on its low-immunity platform.

Date Source: https://www.biospace.com/biospace-layoff-tracker