Caribou Biosciences announces $25M investment from Pfizer

Caribou Biosciences (CRBU) announced that Pfizer (PFE) has made a $25 million equity investment in the company. Pfizer purchased 4,690,431 of Caribou common shares at a price of $5.33 per share, pursuant to the terms of a Securities Purchase Agreement dated June 29, 2023. The purchase by Pfizer closed on June 30, 2023. In conjunction with the investment, Sriram Krishnaswami, PhD, has joined Caribou’s Scientific Advisory Board. Caribou will use the proceeds of this investment to advance CB-011, an immune cloaked allogeneic CAR-T cell therapy currently being evaluated in the CaMMouflage Phase 1 clinical trial in patients with relapsed or refractory multiple myeloma. Caribou will maintain full ownership and control of its pipeline of allogeneic CAR-T and CAR-NK cell therapies.