3 biotech companies laying off workers

As global biotech investment has cooled since the biotech bull market of 2021, some companies have looked to cut more than 25% of their staff.

Here are three biotech layoffs Becker's has reported on since Sept. 12:

1. In September, 2seventybio, which makes T-cell drugs for cancer treatment, laid off 176 employees, or 40% of its workforce.
   
   
2. In October, Sana Biotechnology, a cell and gene therapy company, laid off 29% of its workforce as it looks to focus on its ex vivo cell therapy line.
   
   
3. In November, Sangamo Therapeutics, a company focusing on the treatment of genetic conditions, laid off 40% of its workforce and closed down its headquarters.