Editas Medicine to Restructure, Cut 20% of Staff

By Chris Wack

Editas Medicine Inc. said Monday that it is undertaking a portfolio reprioritization and research-and-development realignment, which will include cutting 20% of its staff.

The company said its R&D efforts would narrow, focusing on hemoglobinopathies and in-vivo discovery, allowing it to pursue and develop programs it believes have maximum probabilities of technical, regulatory, and commercial success.

As a result of the strategic reprioritization, Editas Medicine’s headcount is being reduced by about 20%, which is expected to extend the company’s cash runway into 2025.

The company is prioritizing resource allocation towards EDIT-301, its lead clinical program for the treatment of severe sickle cell disease and transfusion-dependent beta thalassemia. Editas is also discontinuing internal investments in its inherited retinal disease programs. Editas Medicine said it would seek partnerships for further development of its IRD programs.

The company is restructuring its research organization into two divisions. Drug Discovery would focus on in-vivo target identification, therapeutic asset creation, and translational research. Advanced Technology would focus on in-vivo targeted integration and targeted delivery.

In connection with the reprioritization of Editas Medicine’s portfolio, Chief Scientific Officer Mark S. Shearman is expected to step down from his role and depart the company, effective March 31. Editas Medicine has begun a search for a new scientific chief.

Write to Chris Wack at chris.wack@wsj.com

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