Biopharma technology firm BenevolentAI is to make around 180 staff redundant while CFO Nicholas Keher has resigned.

A strategic reorganisation will see the company streamline and reorganise operations across two distinct business units – the Tech Business Unit and the Bio Business Unit.

London-based BenevolentAI, listed on the Euronext market in Amsterdam, is commencing a collective consultation process around the proposed headcount reductions.

The net cost savings around the reorganisation are expected to be £45 million – £13m from facilities and other operating expenses, and £32m in reduced drug programme and staff costs – which it says extends its cash runway to at least July 2025, without accounting for any new revenues.

Following the departure of Keher, who – according to BenevolentAI – intends to pursue other business interests, an interim CFO has been appointed in Tom Holgate, SVP and group finance director. A search has begun for Keher’s replacement.

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The strategic plan, approved by its board of directors, may result in a new suite of revenue-generating products to capitalise on the vast potential of AI-driven technologies in the biopharma domain. 

“Embarking on this process requires difficult decisions, particularly concerning our valued colleagues,” said CEO Joanna Shields (pictured). 

“Our new strategic direction ensures we maximise 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.”

Drug pipelines being developed for treatment of Ulcerative Colitis, Glioblastoma Multiforme, Amyotrophic Lateral Sclerosis, Parkinson’s Disease and Fibrosis will continue.

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