ArsenalBio Lays Off 50% of Staff in Major Strategic Pivot
Arsenal Biosciences has laid off 50% of its workforce as part of a major reorganization effort to shift focus from early-stage research towards advancing clinical development of its cell therapy programs123.
The company now has 127 employees following the layoffs, according to a spokesperson2.
This strategic restructuring is meant to extend ArsenalBio's cash runway, enabling it to focus on moving investigational therapies like AB-2100 (a CAR T therapy for renal cell carcinoma) through key clinical milestones2.
The layoffs will not impact ArsenalBio's partnership with Bristol Myers Squibb, established under a multi-program contract in 20212.
The company previously raised $325 million in a Series C round in September 2024 to support its pipeline2.
Sources:
1. https://www.fiercebiotech.com/keyword/biotech-layoffs