"Business Vertex says the layoffs are due to the discontinuation of a Type 1 diabetes study."
"The pharmaceutical company Vertex is laying off 125 employees in Rhode Island and consolidating offices, following the discontinuation of a Type 1 diabetes study."
"Devlin says Vertex remains committed to 'bringing transformative therapies' to people living with Type 1 diabetes and is progressing another Type 1 diabetes cell therapy program, Zimislecel."
"Despite the layoffs, Vertex has been growing its employee count."
Vertex Pharmaceuticals is laying off 125 employees in Rhode Island after discontinuing its VX-264 Type 1 diabetes study due to unsatisfactory efficacy results. The company will consolidate its operations into one building while providing severance and support to affected employees. Despite this setback, Vertex maintains a commitment to developing transformative therapies for Type 1 diabetes through its Zimislecel program and has experienced overall growth in employee numbers, increasing from 5,400 to 6,100 over the past year.
Read at Boston.com
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