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Zymeworks Cuts C-Suite In Half At Crunch Time For Pipeline

Looking To Be More Cost-Efficient

 
• By Kevin Grogan

New Zymeworks CEO Ken Galbraith is laying off at least 25% of the company's staff, including 50% of the senior management team, as the firm looks to advance pivotal trials of its HER2-targeted bispecific antibody zanidatamab.

job cuts
• Source: Alamy

Days after assuming the role as Zymeworks, Inc.'s new CEO, seasoned biotech entrepreneur Ken Galbraith has wasted no time in introducing sweeping changes at the Canadian cancer specialist which will see half the senior management team shown the door and plans to cut staff numbers by a quarter by the end of 2022.

Galbraith, who is also Zymework's chair and was due to succeed co-founder Ali Tehrani on or before 1 February, actually started on 15 January and moved quickly "to review and...

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