CRISPR specialist Intellia Therapeutics has announced a significant workforce reduction, laying off about 15% of its employees, alongside a pause on some early-stage research. This strategic move follows the company's recent achievement of receiving U.S. regulatory approval to commence a late-stage clinical trial for its most advanced drug candidate, NTLA-2001, targeting ATTR amyloidosis, a rare genetic disease.
John Leonard, Intellia’s CEO, emphasized the company's commitment to expanding the potential of gene editing technologies to treat a broader range of diseases, including those originating outside the liver. Despite the layoffs, Intellia remains focused on advancing NTLA-2001 and other key programs. The company has already begun enrolling patients in the Phase 3 trial for NTLA-2001, which aims to treat the cardiac form of ATTR amyloidosis by silencing a gene responsible for producing a toxic protein that accumulates in the heart and nerves.
Intellia's collaboration with Regeneron has been pivotal in developing NTLA-2001 and other experimental drugs. The partnership has also extended to exploring gene editing treatments for neurological diseases. However, Intellia has faced challenges, including the discontinuation of a partnership with Novartis for sickle cell disease and a strategic pivot from a liver disease program to focus on a novel approach using its 'DNA writing' technology.
The biotech sector has seen a wave of layoffs and restructuring, with Intellia being among the first to announce such measures in 2024. The company's rivals, including CRISPR Therapeutics and Editas Medicine, have also encountered setbacks, highlighting the volatile nature of the gene editing and biotech industries.
