By Colin Kellaher
Syros Pharmaceuticals plans to shed 35% of its staff as the biopharmaceutical company tightens its focus on key drug candidate tamibarotene.
The Cambridge, Mass., company on Monday also said its chief executive, Nancy Simonian, plans to retire at the end of the year and will be succeeded as CEO on Dec. 2 by Conley Chee, currently chief commercial and business officer.
Syros said the realignment will prioritize development and pre-launch activities to advance tamibarotene for the frontline treatment of higher-risk myelodysplastic syndrome and acute myeloid leukemia.
The company, which currently has 117 employees according to data from FactSet, said it will end further investment in the development of SY-2101 for the treatment of newly diagnosed acute promyelocytic leukemia, as well as in its preclinical and discovery-stage programs.
Syros said Eric Olson, its chief scientific officer since 2013, is leaving effective Oct. 16.
The company said Simonian, its founding CEO, will remain a member of the board.
Write to Colin Kellaher at [email protected]
Read the full article here