CARLSBAD, Calif. — Biotech CEOs leading cell and gene therapy companies spoke frankly at a conference here last week about the tough choices they’re making to preserve limited cash amid the industry’s ongoing slowdown.
The company leaders said that they’ve felt added pressure to use smaller teams to work quickly on fewer projects, and at times to partner with outside firms that have specific manufacturing and research expertise. Not all of these changes are bad, they added, noting that efficiency is a good trait for a biotech company in any market.
The candid conversation on Thursday was part of Meeting on the Mesa, an annual cell and gene therapy conference held in Carlsbad, in the north of San Diego County. And it provided a glimpse into discussions happening across the life science industry as biotech markets continue a sharp slump that dates back to late 2021.