Ring Therapeutics, a gene therapy startup launched by Flagship Pioneering, has laid off 19 employees, just under 20% of its staff. Sonata Therapeutics, another Flagship startup, has also let go of a third of its staff. Private biotechs are facing funding scarcity, forcing startups to make tough choices on staffing and priorities. Ring Therapeutics is ambitious, aiming to engineer a new class of viruses for delivering genes into patients’ cells, potentially creating safer and more versatile vehicles for gene therapy than the viruses currently used.
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Ring Therapeutics, a Flagship gene therapy startup, lays off 20% of staff
