Intergalactic Therapeutics, based in Cambridge, MA, announced its closing after less than 2 years since the company's launch in 2021.
Intergalactic Therapeutics, a company specializing in developing non-viral gene therapies based in Cambridge, MA, announced its closing this week. This comes less than 2 years after the company launch in 2021.
Joseph W. Graskemper, in charge of external manufacturing and supply chain operations, posted on Linkedin, “The current economic environment has led to challenging times for companies to raise capital. As a result, many companies are reducing staff or halting operations completely. Unfortunately, Intergalactic Therapeutics was not immune to these challenges and all employees have been laid off, myself included.”
In late June 2023, the company announced positive results achieved with its non-viral gene therapy platform in ABCA4 retinopathies in non-human primates.
At that time, the company announced the following top line results: “Data from IG-002, Intergalactic's lead program, demonstrate persistent ABCA4 expression in non-human primate retinas over 6 months after a single administration. Findings build on 12-month durability data achieved in adult porcine retinas also after a single administration. The data support plan to advance IG-002 into Phase 1 trials in 2024.”