
Tome Biosciences, a gene editing startup, is set to lay off nearly its entire workforce as it struggles to secure new funding or partnerships. The company, which launched with $213 million in December, filed a layoff notice in Massachusetts indicating that 131 employees will be let go in the first two weeks of November. This move comes amid broader challenges faced by preclinical gene editing companies, as highlighted by CEO Rahul Kakkar. The layoffs at Tome Biosciences reflect the difficulties in the biotech sector, where companies are grappling with financial and operational hurdles.
Genentech to lay off another 93 people, nearly half of them scientists https://t.co/kaswir1JBo via @SFBusinessTimes
Bay Area biotech firm lays off dozens more scientists just months after 436-worker cut https://t.co/AFALMKwmqp
Genentech plans to cut another 93 jobs as the biotech industry overall attempts to deal with pressure from investors, regulators and shifting ways for discovering, developing and manufacturing large-molecule biologic drugs that are injected. https://t.co/4v3rVMKsSH