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Rough Passage: Gene Therapy Developer Hunkers Down after Job, Pipeline Cuts
Speaking with GEN Edge at the J.P. Morgan conference, Passage Bio CEO commits to current workforce following a restructuring that extends the company’s cash runway into 2025By Alex Philippidis -January 25, 2023
Three months after eliminating 23% of its staff in a restructuring, Passage Bio CEO William Chou says the Philadelphia gene therapy developer will maintain the current size of its workforce while it works to deliver clinical progress on its lead programs. [Passage Bio]Share
Three months after eliminating 23% of its staff in a restructuring, the CEO of Passage Bio says the gene therapy developer will maintain the current size of its workforce while it works to deliver clinical progress on its lead programs.A month after William Chou, MD, was appointed the company’s chief executive, Passage announced a restructuring that eliminated 22 jobs, leaving the company with nearly 100 employees. Passage Bio’s co-founders include gene therapy pioneer James M. Wilson, MD, PhD.
The job cuts marked the second round of job-cutting carried out by Passage last year. The company eliminated 17 jobs in March 2022, an 11% reduction that shrank the workforce from the 133 employees with whom Passage rang in 2022, according to a regulatory filing.
“We are absolutely committed to this level of workforce. This is the right size of the company to deliver on the programs that we have now,” Chou told GEN Edge in an interview during the recent J.P. Morgan 41st Healthcare Conference.
Read the full article at: www.genengnews.com
