Vir Biotechnology Acquires T-Cell Engagers from Sanofi, Reduces Staff by 25% in Strategic Pipeline Shift

1. Acquisition of T-Cell Engagers: Vir Biotechnology has acquired three T-cell engagers from Sanofi, enhancing its portfolio of immunotherapy candidates.
2. Staff Reduction: As part of its strategic pipeline shift, Vir Biotechnology has laid off 25% of its staff to focus resources on the newly acquired programs.
3. Pipeline Focus: The company is discontinuing some of its existing pipeline programs to concentrate on developing the Sanofi-licensed candidates.
4. Sanofi's Pipeline Transformation: Sanofi is undergoing a significant pipeline transformation, aiming to increase Phase 3 studies by 50% between 2023 and 2025, with a focus on immunology and potential blockbuster launches.
5. Industry Impact: This move reflects a broader trend in the biotech industry where companies are strategically adjusting their pipelines to focus on high-potential assets and streamline operations.