Kolon TissueGene cuts 37 jobs after phase 3 osteoarthritis trial fails
Kolon TissueGene announced it will lay off 37 employees at its Maryland headquarters, with the reductions set to take effect at the end of August.
The cuts follow a phase 3 trial of the company’s TG‑C cell therapy for knee osteoarthritis that missed its co‑primary endpoints, a result the CEO described as a source of great disappointment and concern.
TG‑C, a mix of donor‑derived cartilage cells and engineered embryonic cells that release TGF‑β1, had previously received South Korean approval in 2017 before that clearance was withdrawn in 2019 over a cell‑type mix‑up. The company’s CEO has apologized to shareholders and said the firm will work to address the setback.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Kolon TissueGene shrinks workforce after pivotal osteoarthritis trial miss”
read at Fierce Biotech ↗
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