Transgene, the oldest French Biotech company announced just yesterday that it will cut 120 jobs on its current 300 employees. The company will shut down its manufacturing facility in order to focus on the Research and Development of its therapeutic vaccine candidates. Wise move or final last words?
Back in 1976, Robert Swanson and Herbert Boyer founded Genentech together, the very first Biotech company. Three years later, two French scientists decided to do the same on the other side of the Atlantic. More than 35 years later, and unlike Genentech, Transgene is still struggling to put its first product on the market.
Since its creation, Transgene has explored more science than a lot of other Biotech companies put together. Starting with recombinant proteins in 1979, it rapidly switched to gene therapy under the commandment of Bernard Gilly, now General Manager of Pixium Vision. Since 2004, and the nomination of Philippe Archinard at the head of the company, Transgene is focusing on therapeutic vaccines,