Orchard Therapeutics announced a new strategic plan that will extend the company's portfolio beyond ultra-rare diseases to focus more broadly on hematopoietic stem cell (HSC) gene therapies.
“Moving forward, we are focusing on advancing therapies for high need and high value diseases, and our work in neurometabolic disorders is a clear example of this. We’re also excited to announce new research programs which we believe will demonstrate the breadth of the HSC platform approach,” said CEO Bobby Gaspar.
The new plan will also involve closing the company's recently expanded 150,000-square-foot facility gene therapy manufacturing facility in Fremont, CA. The plant closing and portfolio changes will reduce Orchard's current headcount by approximately 25 percent.
The strategy is expected to achieve cash savings of approximately $125 million through the end of 2021.
Read the press release
