Caribou Biosciences to halt both CAR-T programmes and weigh merger or wind-down

Caribou Biosciences is preparing to end clinical development of its two allogeneic CAR-T candidates, leaving the company without an active clinical pipeline while it reviews what to do next. The plan was set out alongside third-quarter results published on 5 November.

The company posted a net loss of $26.6 million for the quarter and reported $94.8 million in cash and securities at 30 September. Its board had agreed on 6 October to restructure the business and look at strategic alternatives. Those include a merger or a liquidation.

The two programmes affected are vispa-cel, being developed for B-cell non-Hodgkin lymphoma, and CB-011, aimed at multiple myeloma. Caribou attributed the decision to the state of the financing market. For context, allogeneic therapies use donor-derived cells rather than a patient's own, an approach that has been pursued as a route to ready-made CAR-T products.

Caribou has not set out a timetable for the review or the terms of any deal. It has also not said how patients already enrolled in the studies will be handled, so those points remain open.