Precigen Reduces Personnel by 20% for RRP Candidate

American biotech company Precigen, which specialises in cell and gene treatments, plans to decrease its personnel by a fifth and halt other programs in order to concentrate on the possible marketing of its PRGN-2012 gene treatment for recurrent respiratory papillomatosis (RRP).

Additionally, the business declared that it plans to attempt to bring in $30 million through an IPO. Over the following thirty days, it intends to provide the opportunity to purchase up to $4.5 million additional shares. This action is part of a cost-cutting plan meant to free up assets so that PRGN-2012 can move forward.

By 2030, PRGN-2012 is expected to generate $826 million in revenue worldwide.

Precigen’s CEO Helen Sabzevari stated: “These prioritisation steps enhance our ability to rapidly prepare for the potential commercialisation of PRGN-2012, which, if approved, we believe has the safety, efficacy, and route of administration profile to be the first and best-in-class therapy for RRP patients.”