Caribou Biosciences plans to discontinue development of its two allogeneic CAR-T cell therapy programs and cut its workforce while evaluating strategic alternatives, including a merger, acquisition or transactions involving its assets.
The Berkeley, California-based company will halt further development of vispacabtagene regedleucel, known as vispa-cel, for relapsed or refractory B-cell non-Hodgkin lymphoma, and CB-011 for relapsed or refractory multiple myeloma.
Chief Executive Rachel Haurwitz attributed the decision to difficulties securing capital in the current financing environment for allogeneic CAR-T therapies. She said the decision did not reflect a change in the company’s assessment of the programs’ potential benefits.
Vispa-cel was ready for a pivotal trial, with agreement already reached with the U.S. Food and Drug Administration on a Phase 3 study design, according to Caribou. The therapy targets CD19 and incorporates a PD-1 knockout intended to limit premature exhaustion of the engineered cells.
CB-011 targets BCMA and uses an immune-cloaking strategy intended to reduce immune-mediated rejection. It was being evaluated in the Phase 1 CaMMouflage trial.
Both programs received FDA Regenerative Medicine Advanced Therapy, Fast Track and Orphan Drug designations for their respective indications.
Caribou’s board approved the strategic review and appointed Wedbush Securities as its exclusive financial adviser. The company has not established a timetable for completing the process.
A substantial workforce reduction is expected to be mostly complete in the fourth quarter of 2026. Caribou reported $113.8 million in cash, cash equivalents and marketable securities as of June 30, 2026. It also plans additional cost reductions alongside the development shutdown.
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