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Nestlé Sells Gut-Health Test Maker Prometheus Labs, Layoffs Expected

Xconomy

Eight years after San Diego biotech Prometheus Laboratories was acquired by Nestlé Health Science , the diagnostic business has been sold again, this time to a little-known biotech called Precision IBD that plans to lay off approximately a quarter of Prometheus’s workforce.

Layoffs 91
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Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More

Xconomy

—Merrimack Pharmaceuticals (NASDAQ: MACK ) announced layoffs of 22 percent of its staff and the resignation of CEO Robert Mulroy. —San Diego: Biotech firm Sirenas reeled in a grant from the Bill and Melinda Gates Foundation to extract chemicals from marine organisms that might treat neglected diseases. CLINICAL NEWS.

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Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More

Xconomy

. —In the pink slip department, Cambridge-based Infinity Pharmaceuticals (NASDAQ: INFI ) announced 100 layoffs , more than half its workforce, after it terminated its partnership with AbbVie (NYSE: NYSE ) around the cancer drug duvelisib. Analysts wondered if the Tesaro news would push Medivation’s acquisition price higher.

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Xconomy’s Top Innovation Stories of the Half Year

Xconomy

Layoffs Reflect New Turbulence at High-Flying 3D Robotics. Jeff Engel maps out New England’s cluster of cybersecurity companies—one of the region’s strengths (and a rich source of acquisition targets). Amid Leadership Changes, NY Biotech Braces for Its Pivotal Moment. AgTech Accelerator Aims to Sway Agriculture Investment Trends.