Small-molecule biotech Belharra Therapeutics is implementing a workforce reduction that will impact 21 people.
The layoffs will allow the San Diego-based biotech to extend its cash runway “to achieve key inflection points while alleviating capital raise pressures, particularly given the persistent uncertainties and fluctuations of the funding environment,” a Belharra spokesperson told Fierce Biotech.
The 40% reduction affected “some highly talented and dedicated researchers and colleagues,” the spokesperson said. The cuts were first reported by Endpoints News.
Belharra’s non-covalent chemoproteomics platform and company functions remain fully operational. The biotech, which emerged in January 2023 with a $50 million series A and $80 million from a Genentech pact, is working on early-stage programs in the immunology and oncology fields.
The biotech remains “fully committed to advancing our programs underway with both our Genentech and Sanofi collaborations,” the spokesperson said.
The deal with Roche’s Genentech spans multiple therapeutic areas and offers Belharra the chance to make up to $2 billion in biobucks. As part of the pact, Belharra is conducting discovery work and early preclinical development before Genentech takes over at the late preclinical stage. The biotech also has the option to co-develop certain oncology or immunology programs designated by Genentech through phase 1.
Meanwhile, Belharra is also looking for new ways to drug targets selected by Sanofi, according to the deal inked this summer. The Big Pharma paid $40 million upfront and in near-term milestones to explore immunology targets that have been previously considered “undruggable.” Sanofi is offering Belharra up to $700 million in biobucks tied to the deal.
No specific programs related to either partnership have been publicly disclosed yet.
The Versant Ventures-backed biotech’s science comes from the labs of Scripps Research, with Belharra touting its platform as the next-generation advancement over previous chemoproteomics platforms.
The company is helmed by Jeff Jonker, who previously held leadership roles at Ambys Medicines and NGM Biopharmaceuticals.