Vertex Pharmaceuticals is laying off 140 employees, 125 of which are from company’s Rhode Island operations, and consolidating its three buildings in the state into one.
Vertex’s three Providence locations will “operate as an integrated campus” going forward, according to a June 6 WARN letter. The layoffs, effective August 5, are connected to the discontinuation of the company’s diabetes therapy, VX-264, a company spokesperson told The Providence Journal.
VX-264 is an investigational fully differentiated pancreatic islet cell therapy encapsulated in a proprietary immunoprotective device. Back in March, Vertex decided to not advance the treatment further in clinical trials after a phase 1/2 study failed to meet the efficacy endpoint.
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