Editas axes two-thirds of its staff, including its CMO

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David Popkov

Editas Medicine has decided to end the development of its gene-editing therapy for thalassaemia and sickle cell disease (SCD), narrowing its R&D focus and making sweeping cuts to its workforce.

After failing to find a commercial partner for its ex vivo CRISPR therapy renizgamglogene autogedtemcel (reni-cel) – despite encouraging preliminary results in the RUBY and EdiTHAL trials – the company has decided to focus its efforts solely on its in vivo CRISPR pipeline.

Reni-cel treatment involves an ex vivo use of gene-editing – where the technology is used to modify a patient's own cells outside the body – and is playing catch-up with Vertex and CRISPR Therapeutics' rival Casgevy (exagamglogene autotemcel or exa-cel), which is already approved for SCD and transfusion-dependent thalassaemia (TDT).

Shelving the therapy means Editas will now focus on in vivo therapies, where gene editing drugs are delivered systemically and exert their effects directly in the body, starting with a candidate for SCD and thalassaemia that has demonstrated proof-of-concept in preclinical testing, including in non-human primates.

Baisong Mei

The decision means, however, that the Cambridge, Massachusetts-based biotech will shed 65% of its headcount over the next six months, around 180 workers, including chief medical officer Baisong Mei, who was appointed to the role in mid-2022.

It's the second round of layoffs at the company since its launch to great acclaim in 2013 at the peak of excitement about the potential of gene-editing technologies. Last year, it laid off 20% of its workforce and pared back research spending to prioritise work on reni-cel after disappointing clinical results with some early programmes.

The problems besetting the company have already weighed heavily on Editas' share price, which was trading at more than $90 in 2021, but is now at a fraction of those highs. It closed down 5% to $1.89 yesterday, shortly after the announcement, and has fallen another 10% after-hours.

Chief executive Gilmore O'Neill said that the decision to focus on the in vivo pipeline stemmed from recent scientific "breakthroughs [that] have convinced us that the timelines around the near-term viability of in vivo CRISPR-edited medicines have accelerated meaningfully."

The company now expects to be able to demonstrate proof-of-concept in human trials with its in vivo candidate within around two years and intends to report additional preclinical data with the programme early next year.

"We want to extend our deepest appreciation to patients, investigators, clinical sites staff, and our employees who have shown tremendous dedication and commitment to developing a potentially transformational medicine like reni-cel," said O'Neill in a statement.

Editas ended the third quarter with cash reserves of around $256 million, down from $318 million three months earlier. It said at the time that was enough to fund operations to the middle of 2026, but with the cutbacks reckons it has enough cash on hand to last into the second quarter of 2027.

Photo by David Popkov on Unsplash