Finance Watch: Biopharma Reckoning Brings Restructuring Plans, Consolidation
Shutdowns, Layoffs, Mergers Abound
With cash preservation in mind, Rubius will dissolve, while EQRx, Impel, Cybin and Graphite cut jobs. Meanwhile, Jounce is restructuring and it plans to merge with Redx, yet the dually troubled firms MEI Pharma and Infinity will combine, while VBL will disappear in a reverse merger with Notable Labs.
