Swiss biotech firm Molecular Partners to cut nearly half of workforce

ZURICH, Oct 29 (Reuters) - Switzerland's Molecular Partners is cutting its workforce nearly in half, it said on Thursday, as it aims to narrow its focus on the booming field of radiotherapeutic medicines. 

The clinical-stage biotech company, which has partnered with pharma giant Novartis and American AbbVie, is set to reduce its employee headcount by up to 44%, or up to 55 people.

• Emerging clinical data for its lead radiotherapeutic drug candidate encouraged company transformation with focus on targeted radiotherapy, CEO Patrick Amstutz said in a statement

• The reduction is expected be completed by the second quarter of 2027 and the related costs set to come into effect in the second half of the same year, Molecular Partners said

• Previously announced timelines on clinical assets stand, the company said

(Reporting by Marleen KaesebierEditing by Linda Pasquini)