iTeos, a Watertown-based biotech company, announced its shutdown, mirroring a trend in the industry. This decision coincided with Keros Therapeutics’ discontinuation of a high blood pressure drug candidate, resulting in substantial layoffs. With Keros reducing its workforce by 45%, the aftermath leaves the company with only 85 employees, highlighting the challenges faced by biotech firms in advancing novel treatments. The closures underscore the volatile nature of the biotech landscape, where promising research can sometimes lead to unexpected setbacks, impacting not only individual companies but also the broader therapeutic development ecosystem.
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