Pieris Pharmaceuticals, Inc. will slash its workforce by 70% under a broader cost-saving plan in a bid to buy the firm more time to clinch partnerships or even a full exit deal after AstraZeneca PLC walked away from a partnership for a protein-based drug candidate for asthma.
Pieris Looks For Way Out After AstraZeneca Exits Respiratory Collaboration
Will Cut Workforce By 70%
The US biotech is hoping to either partner off its wholly owned pipeline or become a target for an acquisition or merger after AstraZeneca’s asthma exit left it with dwindling cash, and a need to cut costs.
More from Business
• By
With new Phase II data, Edgewise asserted that EDG-7500, a sarcomere modulator, could offer better efficacy and safety than cardiac myosin inhibitors in hypertrophic cardiomyopathy.
• By
Strong sales growth for the German group’s SGLT2 inhibitor in 2024
• By
The latest in a long line of restructuring measures will see Sumitomo Pharma making a stepped sale of its pharma operations in Asia to major Japanese trading house Marubeni.
• By
CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
More from Scrip
• By
After a more than three-year hiatus, China's Hengrui has signalled its return to multiregional Phase III trials as it looks to globalize its innovative pipeline. Meanwhile, a number of other Chinese players have announced plans to kick off Phase III trials this year and beyond.
• By
The latest in a long line of restructuring measures will see Sumitomo Pharma making a stepped sale of its pharma operations in Asia to major Japanese trading house Marubeni.
• By
CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.