1. Scrip
  2. >>Business
  3. >>Strategy

Finance Watch: Vir Restructures, Adds Sanofi Cancer Drugs To Clinical-Stage Pipeline

New Strategy Cuts 25% Of Workforce

 
• By Mandy Jackson

Restructuring Edition: Vir will end influenza, COVID-19 and T-cell-based viral vector platform programs to focus on clinical hepatitis and cancer assets. Also, FibroGen cut 75% of its workforce after a clinical trial failure, while Arbutus, HilleVax, Pfizer and others also announced layoffs.

Finance Watch Image
• Source: Shutterstock

Vir Biotechnology, Inc. brought on a new CEO in 2023 and in 2024 it is bringing on a new therapeutic area, while announcing its second round of job cuts in less than a year. The infectious disease specialist announced a restructuring plan on 1 August that will give it a second therapeutic area focus – oncology – through a deal to acquire a portfolio of T-cell engaging therapeutics from Sanofi.

San Francisco-based Vir said it is taking decisive steps to strategically restructure and prioritize its resources around its highest-value opportunities, including tobevibart and elebsiran, which recently posted positive Phase II results in chronic hepatitis D

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
Start Free Trial

Already a subscriber?

More from Strategy

Q1 S&E In Brief: Tracking New Launches And Catalysts In Biopharma

 
• By Jessica Merrill and Joseph Haas

Neurocrine, Madrigal and Vanda updated investors on new drug launches, while Cytokinetics talked to investors about an FDA extension for aficamten.

Pharma Left Hanging After US/UK Trade Pact

 
• By Kevin Grogan

An ‘historic economic prosperity deal’ does not include the sector.

Chinese Vaccine Makers Turn To Emerging Markets

 
• By Dexter Jie Yan

Chinese producers of novel vaccines are increasingly pivoting to developing markets overseas in the face of a collapse in their domestic sales.

Verastem Wins Approval For Novel Drug Combo In Rare Ovarian Cancer

 
• By Jessica Merrill

The novel RAF/MEK inhibitor and FAK inhibitor are the first treatment approved specifically for KRAS-mutated recurrent low-grade serious ovarian cancer (LGSOC).

More from Business

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Pharma Left Hanging After US/UK Trade Pact

 
• By Kevin Grogan

An ‘historic economic prosperity deal’ does not include the sector.

Viatris Will File ‘Fast-Acting’ Meloxicam For FDA Approval This Year

 
• By Joseph Haas

Seven years after acquiring it, Viatris will seek approval of a meloxicam formulation for acute pain backed by data from two Phase III studies in post-surgical pain settings.