Lyra Therapeutics’ Post

In February 2024, Denali Therapeutics underwent restructuring and layoffs, while Clade Therapeutics, a cell therapy biotech, also downsized its workforce. These actions contribute to a series of layoffs across the biotech sector, with 10 companies announcing layoffs in February alone. 2023 witnessed a significant 57% increase in layoffs compared to 2022, prompting hopes for a turnaround in this trend for 2024. Click here to read more: https://bit.ly/3Tebemp #biotech #layoffs #venturecapital #privateequity #deerbornedifference

In February 2024, Denali Therapeutics underwent restructuring and layoffs, while Clade Therapeutics, a cell therapy biotech, also downsized its workforce. These actions contribute to a series of layoffs across the biotech sector, with 10 companies announcing layoffs in February alone. 2023 witnessed a significant 57% increase in layoffs compared to 2022, prompting hopes for a turnaround in this trend for 2024. Click here to read more: https://bit.ly/3Tebemp #biotech #layoffs #venturecapital #privateequity #deerbornedifference

📢 A Call for Unity and Support Amidst BioMarin Pharmaceutical Inc. Layoffs 👨💻 The news of BioMarin Pharmaceutical Inc. Pharmaceutical's recent layoffs—a second round of cuts within just a few months—brings a somber reminder of the challenges facing our biotech community. With 225 roles being affected globally, including many in the Bay Area, we’re all feeling the ripple effects of these changes. BioMarin Pharmaceutical Inc.’s strategic decision to streamline its workforce as part of a broader organizational redesign, aimed at adjusting to evolving business needs, understandably brings a wave of uncertainty for those impacted. This restructuring, though crucial for the company's long-term stability, leaves many talented professionals facing unexpected career transitions. Our industry has been navigating a tough landscape lately, with similar challenges faced by companies like Vir Biotechnology, Inc., FibroGen, Inc., GRAIL, Cepheid, and Genentech. This period of adjustment and adaptation highlights the need for a supportive community more than ever. In times like these, our collective strength and empathy can make a world of difference. Here’s how we can support one another: 1. Extend Your Network: If you know of job openings or can provide referrals, please reach out to colleagues who are now seeking new opportunities. Your connections could be a lifeline. 2. Share Your Skills: Consider hosting or joining webinars and workshops focused on career transition and skills development. Sharing your knowledge can empower others to navigate this period more effectively. 3. Max out your network on LinkedIn: You can send connection requests to leaders in your field, industry and at the competition. Max it out the number of your connections each week. However, be sure to target those who are in charge of making hiring decisions. 4. Offer Moral Support: A kind word or message of encouragement can lift spirits during these challenging times. Let’s remind each other of the strength and resilience we share as a community. 😉 5. Think About Recruitment: If you’re in a hiring position or know of opportunities within your organization, consider those affected by these layoffs. Their skills and experience are valuable assets that could benefit your team. Our biotech community is known for its resilience and innovation. While these layoffs are a significant hurdle, they also offer us a chance to come together and support each other through these transitions. If you or someone you know is seeking new opportunities, I encourage you to reach out. Let’s use our networks and collective expertise to help one another forge new paths forward. Together, we can navigate these challenges and look towards a future full of possibilities. #layoffnews #support #biomarin #sfbayarealayoffs #biotech https://lnkd.in/dd65-UCB

Biotech witnesses a wave of strategic layoffs as companies aim to streamline operations and optimize resources. uniQure, a front-runner in gene therapy, has announced significant restructuring plans following their Q2 financial results released on August 1. This major reorganization aims to cut global headcount by 65%, equivalent to 300 positions. A notable move in this strategy includes the disposition of its Massachusetts manufacturing facility to Genezen and the departure of COO Pierre Caloz. The overhaul is projected to reduce recurring costs by 40%, translating to $75 million in annual savings, while setting the company on a financially fortified path stretching to the end of 2027. This shift is primarily to bolster the development of critical therapies like AMT-130 for Huntington's disease, which has shown promising interim phase 1/2 results. Arbutus Biopharma Corporation, in its August 1st communication, echoed a similar sentiment. Their restructuring will result in a 40% reduction in workforce to focus resources on advancing their key clinical programs—phase 2b of imdusiran for HBV and early-stage trials of AB-101. This tactical move ensures a more extended cash runway through late 2026, despite discontinuing certain HBV research efforts and related trials. HilleVax, a Takeda spinout, is also reducing its workforce by 40% to navigate through financial challenges following their phase 2b trial setback of HIL-214, a norovirus vaccine candidate. This decision aims to curtail operating costs while exploring continued vaccine development and business activities. As biotechs adapt and navigate through financial strains, these measures reflect a strategic prioritization to achieve long-term milestones and deliver transformative medical solutions amidst an evolving industry landscape. #PHARMA #BIOTECH #LAYOFFS #JOBS

2024: Year of Leaner Pharma? 👀 I recently made a post about virtual biotech startups, which took my LinkedIn by storm!! ⚡ The consensus was that it's indeed more and more prevalent to see very lean operations at early stages of company's growth. 📈 HOWEVER. What about Pharma?! 💊 Layoffs and pipeline reprioritization, recently cited in Fierce Biotech article about news from Sanofi isn't inherently new phenomenon... BUT ❗ Does it signal the shift that pharma companies are going to also focus their cash on late stage M&A, that's highly biased towards fewer and "surer" indications? ✅ After all, it's not a big secret that internal R&D teams in pharma are not the main driver of therapeutic development, but rather a point of leverage for more competitive and aggressive acquisition strategy. 💰 (Correct me if I wrong!) So why keep spending money on in-house R&D asset development when you can acquire late stage biotechs that are also (coincidentally) leaner? Here is MY THEORY: Less FTEs needed to bring drug to market NOW than BEFORE. 😬 What do YOU THINK? Do you think this is a sign that PERMANENT CHANGES to biotech industry are happening right now? #biotech #layoffs #pharma #technology https://lnkd.in/gph_q_Ew

📉 𝐋𝐚𝐲𝐨𝐟𝐟𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐁𝐢𝐨𝐭𝐞𝐜𝐡 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧 2024 💰 The biotech industry faces a paradox: some start-ups are thriving, attracting nearly $3 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐟𝐮𝐧𝐝𝐢𝐧𝐠 in 𝐐1 𝐚𝐥𝐨𝐧𝐞. 😔 On the other hand, major biotech and pharma firms like Amylyx Pharmaceuticals, Novartis, Genentech & Sanofi have been subject to significant layoffs. ❗As of May 15th, the number of job cuts in the sector was estimated 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 15,000. Been affected by recent layoffs? 𝐆𝐞𝐭 𝐢𝐧 𝐭𝐨𝐮𝐜𝐡: 📧 𝐦𝐢𝐜𝐡𝐚𝐞𝐥.𝐰𝐨𝐥𝐟𝐞@𝐜𝐬𝐠𝐭𝐚𝐥𝐞𝐧𝐭.𝐜𝐨𝐦 📞 +44 788 461 4213 Read the full article: 𝐡𝐭𝐭𝐩𝐬://𝐬𝐡𝐨𝐫𝐭𝐮𝐫𝐥.𝐚𝐭/𝐩𝐱𝐂𝐑𝐗 #biotech #pharma #newopportunities #funding

February brought a cold front through the Biotech and BioPharma industries, not in terms of weather but in a wave of workforce reductions that swept across several leading companies. These changes signal a period of significant transition, highlighting the challenges and strategic shifts within the sector. Let's explore the key layoffs and uncover the potential silver linings of this tumultuous phase. Read more at https://lnkd.in/gaDWEYQE #asiamedtechs #medtechs #biospectrumasia #healthcare #layoff #biotech

✂️ 𝗕𝗶𝗼𝘁𝗲𝗰𝗵 𝗦𝗵𝗮𝗸𝗲𝗼𝘂𝘁: 𝗟𝗮𝗿𝗴𝗲𝘀𝘁 𝗣𝗵𝗮𝗿𝗺𝗮 𝗟𝗮𝘆𝗼𝗳𝗳𝘀 𝗶𝗻 𝗘𝗮𝗿𝗹𝘆 𝟮𝟬𝟮𝟰 💼 ⚠️ Despite ongoing funding for several biotech startups, 2024 has witnessed substantial layoffs within the sector, impacting major players such as Novartis, Genentech, Pfizer, and Sanofi. 🟡 Brian K. Buntz delves into the underlying causes of these extensive layoffs, dissecting them based on various factors including type, company size, and location. His insightful article sheds light on the magnitude and nuances of these workforce reductions. 🟡 Explore the infographic highlighting the most significant layoffs (over 200) alongside pertinent commentary and read the article to dive deeper into the comprehensive list and analysis here: https://lnkd.in/dxAu9YG5 Drug Discovery & Development #biotechnology #pharmaindustry #bigpharma #layoff #jobseekers #

🚀 Rise Above the Biotech Layoffs With the recent workforce reduction at Astellas, Charles River, Tome Biosciences and more, the wave of biotech layoffs sadly continues. While these changes are tough, they also present a unique opportunity. 🔍 At BioKnow, we provide a free, public Q&A platform that can help you stay engaged and visible in the biotech community. 💪 Leverage Your Expertise: Answering questions on our platform not only helps others but also highlights your skills to potential employers. It’s a simple yet powerful way to differentiate yourself in a competitive market. 👉 Join the conversation at BioKnow.io and let’s turn challenges into new beginnings, together. #Biotech #JobSearch #BioKnow #IndustryInsights

🚀 Rise Above the Biotech Layoffs With the recent workforce reduction at Bluebird, Astellas, Charles River, and more, the wave of biotech layoffs sadly continues. While these changes are tough, they also present a unique opportunity. 🔍 At BioKnow, we provide a free, public Q&A platform that can help you stay engaged and visible in the biotech community. 💪 Leverage Your Expertise: Answering questions on our platform not only helps others but also highlights your skills to potential employers. It’s a simple yet powerful way to differentiate yourself in a competitive market. 👉 Join the conversation at BioKnow.io and let’s turn challenges into new beginnings, together. #Biotech #JobSearch #BioKnow