Recent Layoffs:
Genentech (SF) Lays Off 143 Employees Amid Restructuring Efforts
Genentech, a Roche subsidiary, is laying off 143 employees at its South San Francisco headquarters as part of a strategy to improve operational efficiency. The layoffs are expected to be completed by July 14. This follows previous workforce reductions, including a 3% cut in April and the closure of its cancer immunology research department, with Roche emphasizing its ongoing commitment to hiring in areas advancing its promising drug candidates.
Gilead Sciences (SF) Lays Off 36 Employees Amid Biologics Facility Changes
Gilead Sciences is laying off 36 employees as part of its decision to consolidate its biologics teams by moving them from its Oceanside facility to Foster City. The move follows a decision to abandon the expansion of the biologics facility in Oceanside, California. The company aims to complete the transition by 2027, with the layoffs being part of the restructuring to co-locate biologics development and manufacturing with R&D teams at Gilead’s headquarters.
M&A, Deals, Partnerships:
RayzeBio (SD) Partners with Philochem in $350M Deal for Prostate Cancer Radiopharmaceutical
RayzeBio, a subsidiary of Bristol Myers Squibb, is paying $350 million upfront to license OncoACP3, an early-stage radiopharmaceutical for prostate cancer, from Philochem. The asset is nearing Phase 1 development, with its diagnostic version already in clinical trials. Philochem could receive up to $1.35 billion in milestones and royalties, and RayzeBio aims to target ACP3, a protein elevated in prostate cancer but absent in healthy tissue, providing a differentiated approach in prostate cancer treatment.
Other Interesting News:
Capstan Therapeutics (SD) Launches Phase 1 Trial of mRNA-Based In Vivo CAR-T for Autoimmune Disease
Capstan has dosed the first participants in a Phase 1 trial testing CPTX2309, a lipid nanoparticle-delivered mRNA therapy designed to reprogram immune cells without chemotherapy or DNA integration.The treatment aims to reset the immune system by temporarily eliminating B cells, offering a new way to treat autoimmune diseases using off-the-shelf RNA technology.
Arcellx (SF) Reports Promising Safety Results for Multiple Myeloma CAR-T Therapy
Arcellx and Gilead shared updated results for their CAR-T therapy, anito-cel, for multiple myeloma, highlighting better safety compared to Carvykti (from Legend Biotech and Johnson & Johnson), with no reported cases of severe neurotoxicities. Arcellx plans to file for FDA approval later this year or early next, after showing a 68% complete response rate and 97% overall response rate in their trials for patients who’ve already undergone multiple treatments.
Jasper Therapeutics (SF) Reports Positive Results for Briquilimab in CIndU Treatment
Jasper Therapeutics presented promising data from their SPOTLIGHT Phase 1b/2a study, showing that briquilimab (a novel antibody) provided rapid and durable disease control for chronic inducible urticaria (CIndU), with 100% of participants in the 180mg cohort showing a clinical response within 8 weeks. Briquilimab was well-tolerated, with no serious adverse events and a 92% complete response rate in the 180mg cohort, suggesting it could offer a differentiated safety profile compared to other treatments.
FDA Announces Consolidation Plans to Improve Efficiency and Support for Drug and Biotech Reviews
FDA Commissioner Martin Makary announced plans to further consolidate the agency’s operations, aiming to streamline services like HR, IT, communications, and budget management under a more unified approach to support drug, biologics, and device centers. While details on staff cuts are unclear, Makary emphasized that these changes are designed to eliminate duplicative services and enhance efficiency, without impacting the FDA’s ability to meet user fee deadlines for drug and biologic reviews.
