Insitro, Korro Bio, IGM Biosciences, RallyBio Cut 20%-80% Staff; Novo Nordisk, Sanofi Deals Impact; NY-Presbyterian Lays Off 2%

Several biotech companies and healthcare organizations in the United States have announced workforce reductions amid ongoing industry challenges. Insitro, an AI-driven biotech firm founded by Daphne Koller, is laying off approximately 22% of its employees, equating to around 60 people, to conserve resources for clinical trials amid a broader biotech downturn. Korro Bio, based in Massachusetts, is reducing its staff by 20% to reallocate resources toward the development of KRRO-110, a genetic therapy targeting lung and liver diseases, as its trials progress and partnership with Novo Nordisk deepens. IGM Biosciences, following the termination of a collaboration with Sanofi valued at over $6 billion and the closure of most of its facilities, has laid off 80% of its workforce, marking its third round of deep cuts since 2023.

New Haven-based RallyBio is cutting about 40% of its staff, roughly nine employees, as it restructures to focus on a lead drug program approaching clinical trials, with these cuts disclosed in its Q1 earnings report. Additionally, New York-Presbyterian announced a reduction of 2% of its workforce. These layoffs reflect strategic shifts and resource reallocations within the biotech and healthcare sectors amid evolving clinical and financial landscapes.