Fate Therapeutics cuts chemists to focus on biologics development

Fate Therapeutics, a San Diego drug developer focused on stem cell science, has made staff cuts as part of a gambit to emphasize development of biologics and scale down its work on small molecules, Xconomy's Luke Timmerman reports today. Fate's executive chairman, John Mendlein, tells Timmerman that the biotech upstart now employs 25 people, down from a previous peak staff level of 31 workers. The high-profile start-up's lead candidate, FT1050, is a small molecule used to boost the likelihood that bone marrow transplants will successfully take root in cancer patients' systems. Yet the firm is betting much of its future on biologics in part because such molecules are generally more targeted than small molecules. Report