Caribou halts two cancer cell therapies as it weighs strategic options

Caribou Biosciences said it will stop development of its two remaining cancer cell therapy programs and pursue strategic alternatives after failing to secure funding for planned trials. The company said options could include a merger, acquisition or sale of its assets. STAT reported that Caribou is shutting down.

One program, vispa-cel, is an allogeneic CAR-T therapy for relapsed or refractory B-cell non-Hodgkin lymphoma. BioPharma Dive reported that the FDA agreed to a proposed Phase 3 trial design, but Caribou could not secure financing to run the study. Its other program, CB-011, is being developed for relapsed or refractory multiple myeloma. Caribou said the restructuring will include a substantial workforce reduction, with a limited number of employees remaining to complete the strategic alternatives process and wind down the business. It estimated restructuring expenses of between $15 million and $19 million.