Caribou Biosciences to halt R&D and cut staff as financing for allogeneic CAR-T dries up
Caribou Biosciences, co‑founded by Nobel laureate Jennifer Doudna, announced it will stop all clinical‑stage work and lay off staff because of a financing freeze in the allogeneic CAR‑T market.
The move follows a strategic review that may consider a merger, acquisition or other transaction for the company or its assets. CEO Rachel Haurwitz said the current funding environment makes it impossible to secure the capital needed to responsibly advance the therapies.
Shares dropped about 43% to $0.64 in early trading. Caribou will halt ongoing trials and development of its two active assets, including the CD19‑targeting vispa‑cel for B‑cell cancers.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “Doudna’s CAR T biotech Caribou to end R&D activities, slash staff as financing freezes up”
read at BioSpace ↗
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