Kaleido, a Flagship-backed microbiome company, has cut staff as it runs low on cash
Kaleido Biosciences is burning through cash and conducted a round of layoffs, sources told Insider.Flagship Pioneering, which launched Kaleido, has created several microbiome companies with mixed results.launched in 2015, has cut staff, Insider has learned.
Kaleido hopes to create medications using the natural ecosystem of bacteria, viruses and fungi that live on and inside of the human body, called the microbiome. Scientists think that these microscopic organisms could play a role in stomach ailments,Kaleido is currently running two early-stage clinical trials to study how the microbiome could be used to treat the bowel disease ulcerative colitis and the lung disease COPD.
The company has recently instituted a round of layoffs, two sources tell Insider. The layoffs cut 30% of the staff, one of the sources said. Kaleido CEO Daniel Manichella did not answer specific questions about the layoffs, but said in a statement that"the decision to realign our resources was a very difficult one.". The company declined to say how many employees it has now.
"We are grateful to all our valued colleagues for their dedication and the work they have done to discover and develop new therapies for the potential treatment of inflammatory conditions and diseases," Manichella said in a statement."Their contributions are immeasurable and we wish them future success. We believe this strategic decision strengthens the future of our company and we remain excited by the prospects of our progressing Microbiome Metabolic Therapies drug candidates.
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