Neurology biotech Voyager Therapeutics has laid off 30 staff, a spokesperson for the Massachusetts-based firm confirmed to Fierce Biotech.
The layoffs come after the November announcement, tucked in Voyager’s third-quarter earnings report, that Novartis has discontinued two discovery-stage packages from the pair’s ongoing team-up, returning the rights to Voyager.
Packages for Huntington’s illness, spinal muscular atrophy and one other undisclosed goal had been unaffected by the choice, Voyager stated on the time.
“Voyager evaluates its enterprise wants on an ongoing foundation to make sure it has the suitable workforce and experience to help its enterprise objectives,” the spokesperson defined Wednesday.
On the time of publication, Voyager had not responded to Fierce’s questions concerning the variety of staff left on the firm or whether or not the layoffs are associated to Novartis’ choice to discontinue the packages. The biotech employs between 51 and 200 individuals, in accordance with its LinkedIn web page.
Voyager has one scientific asset, a tau-targeting antibody in a part 1 research for Alzheimer’s illness. The biotech plans to launch one other asset, a tau-silencing small interference RNA molecule referred to as VY1706, into scientific trials subsequent yr, in accordance with Voyager’s third-quarter earnings report.
The corporate can be pursuing a gene remedy for amyotrophic lateral sclerosis however needed to delay its efforts on that entrance earlier this yr to discover a new payload.
Additionally in November, Voyager took off on a brand new analysis collaboration with Transition Bio to find and develop small molecules for neurodegenerative ailments. Voyager paid its new associate a single-digit million-dollar upfront fee, with extra funds as much as $500 million doable if sure milestones are met.
As of Sept. 30, Voyager had $229 million saved in its cargo, in accordance with the earnings report.
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