Plus, news about Rapafusyn Pharmaceuticals:
Ginkgo Bioworks lays off 158 employees: The cuts come after the Boston, MA-based biotech said last month it would ax its labor costs by at least a quarter. Gingko will complete the layoffs by the end of the year, according to a WARN notice.
Xellia Pharmaceuticals axes 200+ staffers: The 247 layoffs in the US will mostly affect employees at the company’s site in Bedford, OH, according to a WARN notice. The move comes as Xellia divests its Bedford manufacturing facilities as part of a $135 million deal to sell some of its assets to Hikma Pharmaceuticals.
Melodia Therapeutics and Alivexis ink partnership: Melodia is spending up to $275 million in upfront and milestone payments for global rights to Alivexis’ cathepsin C inhibitor, MDI-0151. The Swiss biotech will “rapidly initiate” IND-enabling work to advance the drug into clinical studies for refractory inflammatory diseases, such as certain forms of vasculitis.
Rapafusyn raises $28M in Series A: The biotech will use the funds in part to advance its pipeline of macrocyclic peptide-based non-degrading molecular glues. The fundraise was led by 3E Bioventures Capital and Proxima Ventures with support from Lapam Capital.
