Genocea initiates restructuring, taps advisers, explores alternatives

By Wendy Van Sickle

Columbus, Ohio, April 28 – Genocea Biosciences Inc. said it is evaluating strategic alternatives and has put a restructuring plan in place that includes an approximately 65% reduction in workforce in the second quarter of 2022, according to a news release.

The company said it has initiated a process to explore a range of strategic alternatives and has hired professional advisers, including an investment bank, for this process with the aim of maximizing shareholder value.

Strategic alternatives that will be evaluated include the sale of all or part of the company, merger or reverse merger, Genocea said.

In light of these developments, the company said it “is reviewing its clinical and research programs to determine an appropriate course of action.”

Genocea is a Cambridge, Mass.-based biopharmaceutical company focused on the development of cancer vaccines.

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