STAT+: Dewpoint Therapeutics, biotech startup in a once-buzzy field, cuts 70% of staff\u00a0
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Dewpoint Therapeutics, a startup working in the once-buzzy field of biomolecular condensates, laid off most of its staff Thursday.\u00a0<\/p>\n
The biotech is cutting around 70% of its workforce, a source told STAT. Dewpoint declined to provide the number of employees who were affected, saying that specific details related to the cuts were confidential. Following the cuts, Dewpoint \u2014 which previously had offices in Boston and Dresden and Frankfurt, Germany \u2014 will focus its operations in Boston.\u00a0<\/p>\n
The company is also consolidating its drug pipeline, pushing its lead therapy for gastric cancer into clinical trials by the end of the year, CEO Ameet Nathwani said in a statement. He added that Dewpoint is in the final stages of raising private funding.<\/p>\n
Continue to STAT+ to read the full story\u2026<\/a><\/p>\n<\/div>\n