HGS sharpens ax as restructuring claims 114 jobs

Just months after agreeing to be bought out by GlaxoSmithKline ($GSK) for $3.6 billion, Human Genome Sciences is axing about 10% of its workforce. News outlets in the area say that HGS has informed state officials that it will cut 114 of about 1,000 staffers in an internal restructuring. So far there are no details about which departments are being scaled down in the wake of the buyout. The Baltimore Business Journal reports that the Rockville, MD-based developer will start lowering the ax on workers in October. Story

 

Suggested Articles

Preclinical-stage biotech Abpro Therapeutics wants to trial its two lead candidates for HER2-positive cancers and diabetic macular edema in 2019.

After a rough patch in 2017, the stars seem to be realigning for French CAR-T expert Cellectis, which just closed a $164 million U.S. public offering.

Investment firm Frazier Healthcare Partners has closed its 11th fund—worth $780 million—that will help established companies accelerate their growth.