Innovent Biologics (HKG: 1801), a China-based biotech firm, has reportedly closed down a research team at its US headquarters in Rockville, Maryland, according to BioSpace. The wet lab facility is anticipated to be fully shut down in the near future.
While Innovent has not issued an official statement regarding these claims, several former employees have reportedly taken to LinkedIn to discuss the layoffs. Dowdy Jackson, the former Executive Director of Antibody Drug Conjugate (ADC) Biology at Innovent, and Jacob Smith, a medicinal chemistry research scientist, are among those who have posted about the situation on the professional networking platform. It is also mentioned that the research work, which primarily focused on ADCs at the Rockville site, will be transitioned to China, according to statements from former staff.- Flcube.com
