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Founded by Zhang Feng, one of the inventors of CRISPR technology and born with a golden spoon, Editas was once a star company in the secondary market, with a maximum market value of nearly $7 billion
.
However, whether it is a big coffee or "black technology", it is difficult for the research and development of innovative drugs to ascend to the sky
.
On November 17 last year, Editas announced that it had suspended the clinical study
of the world's first in vivo gene editing therapy EDIT-101 due to poor efficacy.
With the failure of the core pipeline and the double whammy of the bursting of the biotech capital bubble, Editas' market value has fallen to less than $600 million
.
How to survive became a question
for Editas to consider.
In 2023, Editas decided to cut 20% of its workforce and cut its "redundant" pipeline
.
/ 01 /
/ 01 /Strive to "survive" 2025
Strive to "survive" 2025Whether it's laying off workers or downsizing pipelines, biotech's purpose is to stay alive, and Editas is no exception
.
As of September 30, 2022, Editas' cash and equivalents were $478.
5 million
.
Although it seems that there are enough bullets, it still does not seem to be safe
.
On Jan.
9, Editas announced plans to cut 20 percent of its workforce, including Chief Scientific Officer Dr
.
Mark Shearman.
According to information disclosed by Editas, Mark
Dr.
Shearman will leave office
on March 31.
At the same time, Editas will also suspend the development
of several core pipelines.
On the one hand, the company will stop investing in hereditary retinal disease programs, including EDIT-101 for Leber's congenital moles 10 (LCA10) and EDIT-103
for rhodopsin-associated autosomal dominant retinitis pigmentosa (RHO-adRP).
On the other hand, the Company will also discontinue internal investments in multiple-edited induced pluripotent stem cell (iPSC)-derived natural killer (iNK) cell programs, including EDIT-202
for solid tumors.
In two areas where research is discontinued, Editas will continue to advance
by seeking partners.
According to Editas, after numerous strategic adjustments, the company's cash can be extended until
2025.
/ 02 /
/ 02 /Focus on hemoglobinopathies and in vivo gene editing
Focus on hemoglobinopathies and in vivo gene editingAfter the strategic overhaul, Editas will focus on two main areas: hemoglobinopathies and in vivo gene editing
.
Editas said it will prioritize the allocation of resources to EDIT-301, the company's primary clinical program
for the treatment of severe sickle cell disease and transfusion-dependent β thalassemia.
At the same time, Editas reorganized the company into two divisions, one for drug discovery for in vivo target identification, therapeutic asset creation, and translational research, and the other for advanced technologies
for in vivo targeted integration and targeted delivery.
The focus of research will also be on the development of milder patient conditioning regimens for hematopoietic stem cell transplantation and the development of the next generation of in vivo editing drugs
.
It's not hard to see why Editas is focusing further on narrowing the R&D stall and pursuing and developing projects that are most likely to receive regulatory approval and commercial success, thereby ensuring that they are not left behind
.
As one of the three musketeers of CRISPR, Editas used to play quite aggressively, not only focusing on in vivo gene editing, but also targeting the genes that were relatively unpopular
.
For Biotech, heading into no-man's land is natural, but it's also riskier
.
Today, Editas has driven himself into a "corner"
.
So, after this strategic adjustment, can Editas turn around?
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