Lexington, Massachusetts-based uniQure, a biopharma technology company specializing in genomic medicines, is continuing its organizational restructuring designed to streamline operations. This includes selling its Lexington manufacturing facility to Genezen.
The restructuring will impact 65% of the company's workforce, approximately 300 employees.
According to CEO Matt Kapusta...
“These actions are designed to ensure we have the funding required to achieve key milestones and drive shareholder value, as we endeavor to deliver transformative medicines to patients in need.
uniQure conducted and recently concluded a detailed review of its operating expenses with the goals of conserving capital, streamlining operations, and ensuring sufficient cash resources to achieve multiple potentially meaningful value creating milestones. As a result of this review, uniQure has or will be taking the following steps:
The sale of the Lexington, Massachusetts manufacturing facility to Genezen announced on July 1, 2024.
Global workforce reductions aimed at organizational rightsizing, delayering and outsourcing sub- and non-critical activities.
Inclusive of the sale of the manufacturing facility, the elimination of approximately 65% or 300 roles across the organization. Certain intended organizational changes are subject to review and advice from the Company’s Amsterdam-based works council, which is ongoing and expected to be completed in the third quarter of 2024. The Company expects to substantially complete the restructuring in the fourth quarter of 2024.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall; why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?