Biotech firm Tome Biosciences has cut back its operations and will lay off 131 employees, according to an August 22 notice filed with the state of Massachusetts.
The cuts will include virtually all of Tome's staff and are scheduled to occur between November 1 and November 14, according to the notice.
A Tome spokesperson told Stat that the cuts were deemed necessary due to "investor sentiment" shifts "across the gene-editing space." The statement also indicated that the company is continuing to "explore strategic options."
The Watertown, MA-based gene-editing startup emerged in late 2023 with $213 million in series A and B funding. In January, the firm acquired Replace Therapeutics for $65 million.
Tome's integrase-mediated programmable genomic integration platform is based on the patented programmable addition via site-specific targeting elements (PASTE) genome-editing tool developed by Tome's co-founders, Omar Abudayyeh, PhD, and Jonathan Gootenberg, PhD. PASTE incorporates a pair of enzymes with elements of CRISPR and prime editing to allow for the insertion of large DNA sequences without incurring double-strand DNA breaks.
The firm also entered into a collaboration in January with Genevant Sciences to incorporate its PGI technology in the development of a gene-editing therapeutic for an undisclosed monogenic liver disorder. Tome's pipeline includes therapeutics for autoimmune and renal disorders as well as liver disorders.
