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Home Industry News Nutcracker Therapeutics Shifts Strategy & Drop 12 Staff Members

Nutcracker Therapeutics Shifts Strategy & Drop 12 Staff Members

30th June 2023

California based RNA Biotechnology company, Nutcracker therapeutics, has shifted its strategy- narrowing their focus on their existing preclinical initiatives and improving their platform. In the process, they let go of 12 employees.

They reported that they “are supporting every impacted employee with additional resources through this process.”

The redundancies may come as a surprise as they follow shortly after a hugely successful period of series C funding, totalling $167 million in 2022. Although, Nutcracker does not anticipate stopping any of their current initiatives.

This was supported by Chicago based Biotechnology investor, Arch Venture Partners, who aimed not only to optimise the production infrastructure, but also grow and develop the existing pipeline of cancer treatments.

During this year’s annual meeting of the American Association for Cancer Research, Nutcracker Therapeutics announced their recent preclinical findings. Researchers on this project had discovered that using immune modulators alongside mRNA treatment resulted in a higher rate of tumour clearance in test samples.

This year alone has seen huge capital investment into this area. Some of the biggest examples are the $300 million for ReNAgade Therapeutics and $270 million for Orbital Therapeutics.

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