IASO Biotherapeutics, Cabaletta Bio Ink License Pact For CD19 Binder - Cabaletta Bio (NASDAQ:CABA)

IASO Biotherapeutics has granted a worldwide license to Cabaletta Bio Inc CABA to develop, manufacture and commercialize a clinically validated fully-human CD19 binder designed to modify T cells for autoimmune diseases.
IASO Bio is entitled to receive approximately $162 million in aggregate payments, including an upfront payment, potential milestone payments, and royalties.
IASO Bio has the right of the first negotiation to develop and commercialize Cabaletta's products using the licensed sequence in the Greater China region.
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Cabaletta Bio announced CABA-201, a newly designed, fully human CD19 chimeric antigen receptor (CAR) containing a 4-1BB co-stimulatory domain.
"We have a sufficient cash runway that will allow us to advance CABA-201 in parallel with the DesCAARTes and MusCAARTes trials employing our chimeric autoantibody receptor (CAAR) technology," said Steven Nichtberger, CEO and Co-founder of Cabaletta.
The company anticipates an IND submission for CABA-201 in the first half of 2023, and pending FDA clearance of the IND, initial clinical data by the first half of 2024.
Price Action: CABA shares are up 3.50% at $0.74 on the last check Tuesday.