BenevolentAI to cut about 180 jobs

BenevolentAI plans to lay off about 180 employees as the company also reduces its lab footprint and stops some drug discovery programs.

The London-based company uses artificial intelligence and machine learning to aid in treatment discoveries. BenevolentAI has previously partnered with pharma giant AstraZeneca and been one of the most successful AI startups for fundraising.

"Embarking on this process requires difficult decisions, particularly concerning our valued colleagues," CEO Joanna Shields said in a May 25 news release. "Our new strategic direction ensures we maximize our portfolio and leverage the knowledge and expertise we have built up in recent years to meet this moment of opportunity for AI in biopharma."

The company said the moves extend its cash runway until at least July 2025 and that it intends to pursue the "unparalleled potential" of generative AI to accelerate biopharma research and development.

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