Fate Therapeutics, Inc. has initiated a major cull of its pipeline, discontinuing its lead clinical programs following the termination of its partnership with Janssen Biotech Inc.. and preparing to lay off more than 200 employees as it seeks to extend cash runway over the next three years. Instead, it will shift its focus to a small handful of much earlier allogeneic cell therapy programs.
Fate Uncertain As Cell Therapy Biotech Pulls Out Of J&J Deal, Restructures
The company is discontinuing its lead clinical programs and planning major layoffs as it seeks to reprioritize its pipeline and extend cash runway.
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