Tessera Therapeutics announced a workforce reduction of about 35% as it shifts priorities around a collaboration with Regeneron that includes a $150 million investment to develop a gene‑editing therapy for alpha‑1 antitrypsin deficiency. The layoffs are permanent but the company retained key leadership and said restructuring will help fund upcoming clinical work. Separately, Tessera secured regulatory clearances to begin a Phase I/II clinical trial of TSRA‑196 in the US and Australia for AATD. The moves mark a transition from larger headcount to focused clinical execution after securing partner capital, aligning the company’s resources behind near‑term human studies for its lead in‑vivo gene‑writing candidates.