Caribou Biosciences Eyes $100M NASDAQ Debut To Propel Off-The-Shelf CAR-T Therapies In Blood Cancer

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  • In a filing with SEC on Thursday, Caribou Biosciences CRBU is penciling in a $100 million initial public offering.
  • The firm expects that its new shares will trade on the NASDAQ under the symbol "CRBU" once the IPO closes. 
  • BofA Securities, Citigroup, and SVB Leerink are acting as joint book-running managers for the offering.
  • The funds will give a boost to the company's three off-the-shelf CAR-T therapies, the most advanced of which is an anti-CD19 candidate (CB-010) in Phase 1 for B-cell non-Hodgkin lymphoma.
  • Some of the IPO proceeds will go to IND-enabling activities for Caribou's other two candidates, CB-011 and CB-012. 
  • The former targets BCMA to treat relapsed/refractory multiple myeloma. That candidate is expected to hit the clinic in 2022. 
  • CB-012, a CAR-T targeting CD371 for the treatment of acute myeloid leukemia. The company hopes to start human trials in 2023.
  • Though Caribou's CAR-T programs all target blood cancer, the company is working on allogeneic NK cell therapies based on induced pluripotent stem cells for solid tumors. 
  • Some of the IPO proceeds will support R&D in this area and develop the CRISPR technology it uses to make its cell therapies.
  • In March, Caribou Biosciences secured a $115 million Series C round.
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