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Submitted URL: https://e.endpointsnews.com/t/t-l-vtutjtd-jhdldljikl-m/
Effective URL: https://endpts.com/atreca-lays-off-40-of-remaining-workers-as-it-seeks-strategic-alternatives/
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November 15, 2023 07:23 AM EST
People


THREE MONTHS AF­TER BIG RE­OR­GA­NI­ZA­TION, AN­TI­BODY MAK­ER ATRE­CA IS BACK
WITH AN­OTH­ER ROUND OF LAY­OFFS


AMBER TONG

SENIOR EDITOR

Atre­ca is let­ting an­oth­er 40% of its staff go in a move ex­pect­ed to keep
it­self afloat through the first quar­ter of 2024 as it ex­plores strate­gic
al­ter­na­tives.

The biotech is fo­cused on ad­vanc­ing APN-497444, an an­ti­body-drug
con­ju­gate tar­get­ing a tu­mor-spe­cif­ic gly­can, through pre­clin­i­cal
test­ing. Its fund­ing needs for that pro­gram and oth­er fol­low-up AD­Cs,
cou­pled with cur­rent fi­nan­cial mar­ket con­di­tions, led to the de­ci­sion,
Atre­ca CEO John Or­win said.


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