Cambridge, Massachusetts-based Beam Therapeutics, a biotechnology company conducting research in the field of gene therapies and genome editing, has announced a restructuring that will pause some research projects and attempt to locate joint venture partners for some of its drug development programs. Additionally, there will be a 20% reduction in the company's workforce.
The reduction in force will impact approximately 100 employees.
According to Beam CEO John Evans, “Our team has done an exceptional job creating diversified programs and technologies with the goal of helping as many patients as possible. Nonetheless, in these challenging financial markets, we have to make hard choices about where we focus our limited resources.”
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