Vor Bio winding down as multiple biotechs downsize

The challenges facing biotechs amid the ongoing financial fallout have resulted in the winding down of one US biotech, Vor Bio, and job losses at a clutch of other firms.

Cambridge, Massachusetts-based Vor Bio has confirmed that it will halt clinical and manufacturing operations, including its ongoing studies of stem cell-based therapies for blood cancers, as it embarks on the dreaded hunt for “strategic alternatives” and cuts 95% of its workforce.

The company – which will end the process with just eight employees to oversee that search – said the decision was a result of “currently…