Repositive halves Cambridge headcount in strategic shift
Genomic data pioneer Repositive is shedding more than half its Cambridge workforce as part of a strategic shift ahead of a key funding round led by existing investors.
CEO Fiona Nielsen said the head office team in Cambridge was being reduced from 35 to 17 as a result of the new commercial focus.
She told Business Weekly: “In the last few weeks we have made the strategic decision to focus the business on delivering our commercial targets and streamline our technical development of the platform to address complex genomic search and data facilitation.
“This strategic decision has resulted in the team, based at the head office in Cambridge, reducing from 35 to 17 people. We are actively working to assist those team members affected by the change to secure new opportunities and we are grateful for the support already received from the Cambridge community.
“We expect our current funding round, which is being led by our existing investors, to conclude by June 30.”
Repositive is accelerating medical progress by creating the largest inventory for cancer models and connecting researchers with the right providers, helping to fast-track the quest for genuine personalised medicines.
Nielsen says: “Repositive is creating a marketplace that enables oncology researchers to more easily search and compare pre-clinical cancer models and services.
“Over the past nine months we have partnered with 14 Contract Research Organisations to offer the world’s largest directory of cancer models on our Cancer Models Platform, with over 4,540 cancer models listed to date.
“Our unique marketplace enables biopharma researchers to quickly find the translational models they need, helping to accelerate the development of personalised cancer treatments to the clinic.
“Repositive has now signed up biopharma companies spending in excess of £100 million on translational models each year and is on course to achieve its transaction targets for 2019, which will position us at the forefront of a highly fragmented market worth $2.6 billion per annum.”