A biotech startup grows out of GlaxoSmithKline's discarded NC R&D

GlaxoSmithKline ($GSK) is laying off nearly 1,000 employees in North Carolina in an effort to trim its R&D costs, cutting deep into the biotech ecosystem in Research Triangle Park. But a handful of ex-GSK researchers have swiftly moved on, starting up a biotech to develop peptide therapies of their own. Phoundry Pharmaceuticals, headquartered in RTP, got off the ground with some undisclosed seed funding and the expertise of some veterans from GSK's enteroendocrine discovery unit. The company is now focused on discovering new peptide therapeutics, looking for partners as it fleshes out its early-stage R&D. More

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