Shoreline Biosciences Reduces Staff Amid Uncertainty in Partnership with Gilead’s Kite
Shoreline Biosciences Layoffs:
Shoreline Biosciences, a biotech company focused on gene editing and cell therapy, has laid off staff dedicated to a cell therapy project in collaboration with Gilead's Kite Pharma5.
Partnership Background:
In 2021, Shoreline Biosciences and Kite, a Gilead Company, entered into a strategic partnership to develop novel allogeneic cell therapies for various cancer targets, leveraging Shoreline's expertise in induced pluripotent stem cells (iPSC) and Kite's cell therapy development capabilities1.
Gilead and Kite Restructuring:
Gilead Sciences and its subsidiary Kite Pharma are undergoing restructuring efforts, including layoffs and site closures in Seattle and Philadelphia, to align resources with long-term strategic goals2.
Industry Context:
The biotech industry is experiencing a wave of layoffs and restructuring, with companies like Carisma Therapeutics, Novartis, and Bristol Myers Squibb also announcing significant workforce reductions3.
Impact on Partnerships:
The layoffs and restructuring efforts within Gilead and Kite may impact their partnerships, including the one with Shoreline Biosciences, potentially altering the trajectory of their collaborative projects45.
Sources:
1. https://www.gilead.com/news/news-details/2021/kite-and-shoreline-biosciences-enter-into-strategic-partnership-to-develop-novel-allogeneic-cell-therapies
2. https://www.biospace.com/job-trends/gilead-and-kite-are-cutting-employees-closing-seattle-philadelphia-sites
3. https://www.biospace.com/biospace-layoff-tracker
4. https://www.gilead.com/news/news-details/2023/kite-and-arcellx-announce-expansion-in-strategic-partnership