A multi-billion buyout by Merck of pharma company Acceleron Pharma will lead to 143 job losses.
Merck completed the £11.5 billion acquisition of the company last November, which has led to lay-offs of existing Acceleron staff, based in Cambridge, Massachusetts.
A Merck spokesperson said: “On Tuesday, March 15, Merck issued a Worker Adjustment and Retraining Notification Act (“WARN”) notice to 143 legacy employees of Acceleron Pharma who will be separating from the company in a phased manner through Friday, November 18, 2022, around the time of the acquisition, employees were either offered a full-time role or were asked to remain to support the integration for a defined period of time. “
READ MORE: MASSACHUSETTS BIOTECHNOLOGY COMPANY ANNOUNCES JOB CUTS
“As part of the ongoing integration of Acceleron, we have extended more than 160 offers since November 2021, of which 75% have accepted positions since the acquisition was announced.”
Acceleron had 312 full-time employees as of Thursday, December 31, 2020. There was no information provided about which divisions are affected.
The transforming growth factor (TGF)-beta superfamily of proteins is the focus of Acceleron. These are important regulators of cell development, differentiation, and repair.
The company’s lead program is sotatercept, in Phase III development for pulmonary arterial hypertension (PAH). PAH is a progressive and life-threatening blood vessel disorder.
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