Caribou halts NK cell therapy, cuts 12% of staff to focus on CAR-T

Caribou Biotherapeutics, a CRISPR-focused company, has made significant strategic changes to ensure financial stability through 2026. This move involves discontinuing its preclinical CAR-NK (Chimeric Antigen Receptor-Natural Killer) research and reducing its workforce by 12%. According to a recent Securities and Exchange Commission (SEC) filing, this reduction translates to 21 employees who will exit the company by the end of September.

A year ago, Caribou's CEO was optimistic about the potential of their NK cell therapy program, describing it as crucial for their solid tumor strategy. However, faced with the need to conserve cash, the company has now decided to completely halt this research. This decision aligns with a broader financial strategy that includes cost-containment measures. These efforts are projected to extend the company's financial runway, which currently stands at $311.8 million in cash and equivalents, by at least six months into the latter half of 2026.

The CAR-NK program, known as CB-020, was designed as an anti-ROR 1 cell therapy derived from induced pluripotent stem cells (iPSC) and aimed at combating solid tumors. Earlier this year, Caribou had already paused work on this program, citing a regular portfolio prioritization process. Despite the pause, the company had maintained that its CAR-NK cell therapy platform had potential for treating multiple diseases.

With the full discontinuation of the NK research, Caribou is redirecting its focus and resources to its allogeneic CAR-T platform. This shift is expected to bring multiple milestones in 2024 and 2025 across its oncology and autoimmune disease programs. Key upcoming milestones include presenting initial dose escalation data for CB-011 in patients with relapsed or refractory multiple myeloma by the end of this year. Additionally, Caribou plans to launch a phase 1 trial of CB-010, currently being tested in B cell lymphoma, for lupus. The company's third asset, CB-012, is in an early-stage trial for relapsed or refractory acute myeloid leukemia.

The decision to prioritize CAR-T over CAR-NK reflects the perception among some observers that the NK cell therapy program was a lower priority for Caribou. In discussions about extending the company's financial runway into 2025 and beyond, CEO Rachel Haurwitz emphasized that Caribou had various strategies to maintain financial stability. Although the NK program’s future was uncertain, Haurwitz mentioned that Caribou was open to partnering on this research.

In summary, Caribou Biotherapeutics is undergoing significant changes to extend its financial stability. By focusing on their allogeneic CAR-T platform and halting the CAR-NK research, the company aims to achieve critical milestones in the coming years. These strategic decisions, combined with cost containment and workforce reduction, are expected to secure Caribou’s financial health through the second half of 2026.