BenevolentAI Slashes Jobs And Drug Programs

180 Staff To Leave

The UK firm, which uses artificial intelligence to discover and develop drugs, is hoping to save £45m by halving its workforce and trimming its pipeline.

Benevolent
• Source: BenevolentAI

In these straitened times for biotechs, and on the back of a mid-stage failure of its lead drug for atopic dermatitis, artificial intelligence drug discovery and developer BenevolentAI Limited of the UK is drastically cutting staff numbers and R&D projects to get costs back under control.

The London-headquartered company which is listed on the Euronext exchange in Amsterdam and has a research facility in Cambridge, UK,...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Strategy

Aurobindo Expects Lannett Acquisition To Pass FTC Scrutiny; Q1 US Revenue Falls

 
• By 

Aurobindo is confident its planned Lannett acquisition will pass US FTC scrutiny after an attempt to acquire Sandoz assets was called off in 2020 post a delay in approval. The deal could widen Aurobindo’s US manufacturing presence at a time when its US Q1 revenue saw a year-on-year decline

AbbVie Raises Full-Year Sales Guidance On Skyrizi/Rinvoq Strength

 
• By 

AbbVie now expects the two Humira successors to bring in $25bn this year. On its Q2 earnings call, the firm also pointed to strength in neuroscience, with 24% growth.

Sanofi CFO Says Direct Sales To Patients ‘Certainly Worth Considering’

 
• By 

François Roger believes fixing inefficiencies is more important than playing with pricing.

Cipla Revs Up Biosimilars Engine Amid Winds Of Regulatory Change

 

Cipla’s partnered filgrastim biosimilar is expected to debut in the US in Q2 FY26 and the Indian firm expects an investment return ratio for its biosimilar engine “not too far” from that of a complex generic product amid an enabling regulatory environment.

More from Business

Aurigene Oncology CEO On Biotech Valuations, CAR-Ts And Reimbursement Models

 

Aurigene Oncology CEO talks in this audio interview about the tough biotech funding environment, pipeline assets including a CAR-T therapy in Phase II, "hybrid" manufacturing, outcome-based reimbursement and the promise of bispecifics and multispecifics, including Akeso's PD-1/VEGF bispecific.

BioNTech Outlines Development Plan For PD-L1xVEGF-Targeting BNT-327

 

The company, with partner Bristol Myers Squibb, has a three-wave development strategy for BNT-327: “establish, combine, broaden.”

Bayer Stokes Optimism With Guidance Update But Risks Remain

 
• By 

Even though the company’s pharmaceutical business continues to do well, navigating some key stress points will be crucial for Bayer.