East Bay cancer drug developer, jilted by Novartis, to cut 51 jobs

Aduro Biotech Inc. will cut nearly 60% of its workforce and close its European office a month after Swiss partner Novartis AG stepped away from a four-year cancer drug collaboration. The Berkeley company (NASDAQ: ADRO) said the restructuring would cut 51 jobs in all. Its office in Oss, The Netherlands, will closed by the end of the third quarter. Aduro had 152 employees at the ed of 2018. The cuts are needed to align operating capital and personnel for a collaboration with E li Lilly and Co. (NYSE:…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news