The deal focuses on the HER2-targeting bispecific antibody zanidatamab, in development for multiple solid tumor indications expressing HER2.

Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts. 

The planned all-stock transaction will enable Enliven to take over Imara’s Nasdaq listing with cash runway into 2026. Imara shareholders get contingent value rights tied to sold-off top candidate tovinontrine.

Sio Gene, Genocea, Solid Biosciences, Saniona and Black Diamond join First Wave, Zosano, Vallon, Finch, Magenta, ProQR and Imara on the growing list of biopharma firms reducing headcount to make their cash last until valuations return to a level that may support new fundraising.