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Seres Therapeutics Announces Corporate Changes to Focus on Advancing Clinical Assets
- Focusing resources on clinical readouts from late-stage microbiome programs for ulcerative colitis, C. difficile infection and planned immuno-oncology study -
“We believe that microbiome therapeutics have an important role in the
future of medicine for a range of serious diseases and that Seres is
well positioned to drive progress in the field with our late-stage
clinical-stage programs, differentiated drug discovery and
state-of-the-art manufacturing capabilities. Following a comprehensive
review of our pipeline, we are concentrating our resources on obtaining
clinical results from our highest-priority, late-stage clinical programs
in ulcerative colitis and C. difficile infection as well as our
soon-to-be initiated Phase 1b study in patients with metastatic
The Company will now concentrate on completing the recently-initiated
SER-287 Phase 2b study in mild-to-moderate ulcerative colitis, obtaining
results from the ongoing SER-109 Phase 3 study for recurrent C.
difficile infection and advancing the SER-401 Phase 1b study, in
collaboration with the
Seres continues to enroll the SER-109 Phase 3 study for patients with recurrent C. difficile infection despite the widespread use of unapproved, fecal microbiota transplantation to treat C. difficile infection. As interference from this uncontrolled procedure has impacted the enrollment rate of the Company’s placebo-controlled clinical trial, Seres is evaluating modification of the study design to expedite clinical results.
The Company will continue to pursue focused preclinical activity on SER-301, a rationally designed microbiome therapeutic candidate for ulcerative colitis, leveraging learnings obtained from the Company’s prior clinical study results.
The Company will make changes to its executive team and reduce its
full-time workforce by approximately 30 employees, and additional
contractors, that in total represent approximately 30% of the workforce.
The positions eliminated are primarily related to research,
manufacturing, and general and administrative services.
“A number of valued employees will be departing Seres as a part of these
corporate changes and I want to deeply thank each of them for their
important contributions to the Company. I would like to specifically
The Company plans to provide updated operating financial guidance in
conjunction with its upcoming fourth quarter and full year 2018
financial results and business update scheduled for
About Seres Therapeutics
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including expectations regarding Seres’ corporate changes and workforce reduction, creating shareholder value, developing meaningful new medicines, Seres’ future, Seres’ product candidates, plans for clinical trials and pre-clinical development, and other statements that are not historical facts.
These forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements,
including, but not limited to, the following: we have incurred
significant losses, are not currently profitable and may never become
profitable; our need for additional funding; our limited operating
history; our unproven approach to therapeutic intervention; the lengthy,
expensive, and uncertain process of clinical drug development; our
reliance on third parties and collaborators to conduct our clinical
trials, manufacture our product candidates, and develop and
commercialize our product candidates, if approved; the success of our
leadership transition; our ability to retain key personnel and to manage
our growth; and our management and principal stockholders have the
ability to control or significantly influence our business. These and
other important factors discussed under the caption “Risk Factors” in
our Quarterly Report on Form 10-Q filed with the
Carlo Tanzi, Ph.D., Seres Therapeutics, 617-203-3467
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