Genetic medicines maker Generation Bio will lay off 68 workers, including two members of its executive team, and will shrink its R&D scope to extend its runway by 18 months, CEO Geoff McDonough told
Endpoints News
.
Wednesday’s
announcement
of the 40% workforce reduction serves as another blow to the non-viral gene therapy field, which has seen private startups like
Summation Bio
and
Intergalactic Therapeutics
shutter this year (there have
also been
a few
financings
). Generation Bio formed in
2016
with the
aim of delivering
the first non-viral gene therapy and had hoped to be in the clinic last year, but poor animal data in 2021
set it back
.