Caribou Biosciences, a CRISPR biotech co-founded by Nobel laureate Jennifer Doudna, is ending its work on two allogeneic CAR-T cancer therapies and laying off a substantial portion of its workforce after failing to raise the money needed for a late-stage trial. Both BioPharma Dive and STAT report that the company could not secure financing for a Phase 3 study of vispa-cel, its lead therapy for advanced B-cell non-Hodgkin lymphoma, despite having reached agreement with the FDA on the trial design.
CEO Rachel Haurwitz said the decision was extraordinarily difficult and not a reflection of the therapies' potential. Caribou's board will consider mergers, acquisitions, or other strategic alternatives. The move follows a series of setbacks since the company's 2021 IPO, including disappointing vispa-cel data in 2024, earlier workforce reductions, and a decision to abandon an autoimmune disease program in 2025.
The two outlets differ slightly in framing: STAT describes Caribou as 'shutting down,' while BioPharma Dive says the company is halting research, laying off staff, and seeking strategic alternatives. BioPharma Dive also notes that an analyst, Daina Graybosch of Leerink Partners, attributed the funding failure to lingering questions about clinical risk, Caribou's HLA-matching strategy, and the strength of vispa-cel's data.