Pfizer purchased 4,690,431 common shares of Caribou at $5.33 per share.
Pfizer global product development multiple myeloma vice-president and development head Sriram Krishnaswami will now join the scientific advisory board of Caribou.
The investment will be used to progress an immune-cloaked allogeneic CAR-T cell therapy, CB-011.
The company is currently evaluating the cell therapy in a Phase I CaMMouflage clinical trial for relapsed or refractory multiple myeloma.
The US Food and Drug Administration granted fast track designation for CB-011 in April 2023.
The complete ownership and control of the pipeline comprising allogeneic CAR-T and CAR-NK cell therapies will be retained by Caribou.
Caribou president and CEO Rachel Haurwitz stated: “We believe Pfizer’s investment in Caribou highlights the potential of our clinical programmes and we are excited to establish this partnership with one of the world’s premier biopharmaceutical companies.
“We are actively advancing our allogeneic CAR-T cell therapy pipeline and look forward to providing updates from all of our programmes over the next six months, including six-month dose escalation data from our ANTLER Phase I clinical trial for CB-010, dose escalation updates on our CaMMouflage Phase I clinical trial for CB-011, and submission of an investigational new drug application for CB-012.”
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