Gene editing and gene therapy maker Homology Medicines is letting go nearly all of its staff, ending clinical development and searching for a buyer or other business exit, the Massachusetts biotech said after Thursday’s closing bell.
It marks another pullback for the field of publicly-traded gene therapy biotechs, following a similar move by Avrobio two weeks ago.
Homology will stop further development of its pipeline, which includes a gene editing program for the rare metabolism disorder phenylketonuria, or PKU, as well as gene therapies for PKU and a lysosomal storage disorder known as Hunter syndrome. Avrobio had also been exploring a gene therapy for certain forms of Hunter syndrome.
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