Ring Therapeutics, a gene therapy startup launched by Flagship Pioneering, has laid off just under 20% of its staff, or 19 employees, Flagship confirmed to STAT.
The move comes as Sonata Therapeutics, another Flagship startup, has let go of a third of its staff, part of a broader hunkering down by platform companies. As funding for private biotechs remains scarce, startups hoping to develop new technologies — always an expensive, setback-ridden process — have had to make tough choices on staffing and priorities.
Ring had been particularly ambitious. The company is trying to engineer a new class of viruses as vehicles for delivering genes into patients’ cells. These viruses, tiny bugs called anelloviruses, had the potential to be safer and more versatile than the viruses currently used for gene therapy, called AAVs.
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.
Already have an account? Log in
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
STAT encourages you to share your voice. We welcome your commentary, criticism, and expertise on our subscriber-only platform, STAT+ Connect