AbCellera Cutting 10% of Workforce, Reorganizing Business

AbCellera Biologics Inc. (AbCellera) is scaling back its staffing levels as it reorganizes its business.

In a filing to the U.S. Securities and Exchange Commission (SEC), the Vancouver-based antibody therapy firm announced that it’s eliminating approximately 10 per cent of its workforce “to better focus its efforts towards the clinical development of new antibody medicines for patients.”

“The reorganization is consistent with long-term plans to prioritize strategic partnerships and internal drug development, and to increase operational efficiency across the business,” the SEC filing reads.

The reduction comes just months after AbCellera announced a new $701-million project, which includes building a biotech campus in Vancouver with “state-of-the-art capabilities.”

Last November, the company employed nearly 500 people, according to its Q3 2022 earnings release.

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