StockMarketWire.com - Autolus Therapeutics, a portfolio company of healthcare company Syncona, will reduce its headcount by 20% in Q1, which will deliver cost savings of around $15 million, as part of its decision to focus and prioritise the development of the AUTO1 programme.

Autolus will seek partnership opportunities to fund additional clinical development plans for AUTO3, in relapsed/refractory diffuse large B cell lymphoma (DLBCL), currently in a Phase 1/2 trial, before progressing the programme into the next phase of development.

The company will continue to build and leverage its platform and capability to progress its pipeline of next generation programmes in paediatric ALL (AUTO1/22) and peripheral T Cell Lymphoma (AUTO4) (which are currently in clinical trials), and multiple myeloma (AUTO8), neuroblastoma (AUTO6NG), peripheral T Cell Lymphoma (AUTO5) and prostate cancer (AUTO7) (which are currently in pre-clinical development).

Autolus also announced a reorganisation of its management team. David Brochu was promoted to chief technology officer with expanded responsibilities from senior vice president for product delivery. Senior vice presidents Dr. Adam Hacker and Dr. Nushmia Khokhar will be leaving the company in Q1 2021. The company is still searching for a new chief medical officer.

Martin Murphy, CEO of Syncona Investment Management and director of Autolus, said: "The decisions to implement cost savings and ensure operational focus by looking to partner the AUTO3 programme, are important to ensure delivery of the AUTO1 programme and advance the company closer to commercialisation.

"Our strategy is to work closely with our portfolio companies and support them as they navigate clinical, financial and operational risks and fund them over the long-term as they seek to take products to approval. We look forward to continuing to support Autolus as they seek to deliver this ambition."




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