Rubius Therapeutics was unable to secure financing to carry out its pivot to a new manufacturing process for its red blood cell-based cell therapies. The once high-flying biotech is now exploring options that could include a sale of the business or a merger with another company.
Rubius Therapeutics is laying off about 75% of its workforce in a restructuring that spells the end of its red blood cell therapies in early clinical development for cancer. The biotech is turning its focus to a new platform for making cell therapies that it says offers key advantages over its current technology.
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
CAR T cell therapies for cancer still pose challenges in manufacturing, safety, and the ability to address solid tumors. A panel at the World Medical Innovation Forum discussed efforts to improve CAR T as well as new approaches for the next generation of cell therapies.
The report also showed 1H18 VC funding already nearly equaled investment in 2017. That's consistent with Silicon Valley Bank's findings on Series A rounds last month.
Red blood cells tend to mind their own business, but what if they could be engineered to replace missing enzymes, activate T-cells, or bind tumor cells? It's an exciting possibility that has garnered a highly oversubscribed $120 million Series B.
The company plans to enter the clinic by the close of 2016 with a red blood cell-based therapy that treats phenylketonuria.
