Eikon Therapeutics, a biotech startup from the Bay Area, is laying off 55 employees—making up less than 15% of its workforce—due to federal funding cuts. The layoffs include directors and scientists and follow a pause in the development of lab hardware aimed at supporting external researchers. The company attributes these unfortunate decisions to budget constraints imposed by the Trump administration's cuts to research funding. CEO Roger Perlmutter emphasized that while drug development programs remain unaffected, the advanced instrument development for researchers had to be paused due to the evaporating market.
The market for these instruments has clearly evaporated due to government funding cuts, pushing Eikon to pause the development of advanced lab tools for researchers.
Eikon's layoffs are tied to a pause in lab hardware projects, affecting those employees working on advanced benchtop instruments critical for research.
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