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Adaptimmune acquires struggling cell therapy rival following layoffs

March 6, 2023

The deal highlights the funding difficulties that development-stage biotechnology companies continue to face amid a sector-wide downturn that has weakened investor interest. This has led to a spate of layoffs and consolidation across the industry.

Before the companies’ respective layoffs — in November for Adaptimmune and in January for TCR2 — they both had expected to run out of money next year without striking any licensing deals or stock sales.

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