capital required to deliver clinical data in the current challenging funding environment,” he wrote. The closure was confirmed by
Fierce Biotech. Locanabio, based in San Diego, has between 51–200 employees, according to its
LinkedIn profile.
Nov. 2:
Kronos Bio will reduce its staff by 19%, the company
announced Thursday just after
releasing positive preliminary Phase I/II trial data on its antitumor candidate KB-0742. The company also has a therapy, lanraplenib, in development for FLT3-mutated acute myeloid leukemia. “By streamlining our operations and extending our runway, we best position the company to optimally fund our KB-0742 clinical studies while continuing to focus on the clinical development of lanraplenib, the advancement of our maturing discovery projects, and our collaboration with Genentech,” said Kronos CEO Norbert Bischofberger in the company’s statement.
According to an
SEC filing, Kronos had 97 employees at the beginning of this year. The company said its restructuring will extend its cash runway into 2026.
Nov. 2:
Seres Therapeutics will undergo a restructuring that includes reducing its workforce by 41%—approximately 160 positions—the company
announced Thursday as it touted positive sales data for its microbiome therapeutic, Vowst. “Given the realities of this challenging financial environment for biopharmaceutical companies, we believe that concentrating our resources on VOWST offers an attractive opportunity for targeted revenue growth, while operating in a more capital efficient manner,” said Seres President and CEO Eric Shaff in the statement.
According to the announcement, Seres will prioritize Vowst’s commercial launch going forward, as well as an ongoing Phase IB study on the microbiome therapeutic candidate SER-155. It will scale back “all non-partnered R&D programs and activities.”