Fujifilm Diosynth: Fujifilm may cut 240 workers and rebuild early-stage biologics, CGT unit

Fujifilm Diosynth Biotechnologies is restructuring its small-scale business unit and potentially laying off as many as 240 staffers as reduced investments for early-stage assets continue. The workforce cuts, which can help the company "manage its operational and financial performance," will affect employees at Fujifilm's sites in Teesside, UK; College Station, TX; Raleigh, NC and Watertown, MA, according to a Tuesday press release. At the end of 2023, The Japanese company employed nearly 73,000 people worldwide. Fujifilm has been impacted by dwindling venture capital investment into early-stage projects, especially in cell and gene therapies, the company said. The unit was launched in August 2023 to provide preclinical and clinical-stage services in biologics, cell and gene therapies, oncolytic viruses and viral vaccines. CEO Lars Peterson previously told Endpoints News it is focusing on commercial offerings and later-stage assets. Last week, the company announced it is investing $1.2 billion at its site in Holly Springs, NC due to high demand for its commercial biologics offerings.