Caribou Biosciences Discontinues CAR-NK Program, Lays Off 21 Employees to Focus on CAR-T Cell Therapies

1. CAR-NK Program Discontinued: Caribou Biosciences has discontinued its CAR-NK program, which involved coupling a chimeric antigen receptor (CAR) with engineered natural killer (NK) cells to target cancer cells.
2. Layoffs: The company will lay off 21 employees, representing 12% of its workforce, to conserve cash and focus on more promising programs.
3. CAR-T Cell Therapies: Caribou will now focus on its three CAR-T cell therapies in clinical trials against blood cancers and one against lupus, which are expected to have milestones in 2024 and 2025.
4. Cash Runway: The layoffs and program discontinuation are expected to extend Caribou's cash runway by at least six months into the second half of 2026.
5. Industry Context: Caribou's decision reflects the challenges faced by biotech companies in the current market, where conserving cash and prioritizing promising programs is crucial for survival.