Adaptimmune’s debt financing deal; Tenaya to cut workers

Plus, news about Brix­ton Bio­sciences, Mer­ck KGaA, Med­in­cell, Cell­Prothera and GSK:

Adap­ti­m­mune inks up to $125M debt fi­nanc­ing: The biotech gets $25 mil­lion to start as it pre­pares for a com­mer­cial launch of its cell ther­a­py. The mon­ey came through short­ly af­ter Genen­tech axed a col­lab­o­ra­tion that could’ve de­liv­ered $3 bil­lion to Adap­ti­m­mune. — Kyle LaHu­cik

Tenaya lays off 22% of its staff: The biotech will re­duce its work­force to save mon­ey for its gene ther­a­pies that are in the clin­ic for cer­tain forms of car­diomy­opa­thy. It had 140 full-time em­ploy­ees at the end of 2023, ac­cord­ing to its most re­cent­ly dis­closed tal­ly. — Kyle LaHu­cik

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