AbbVie terminates collaboration with Caribou for two allogeneic CAR-T programs; effective Oct 25, 2023

Caribou Biosciences, Inc.

AbbVie exercised termination for convenience, citing strategic focus; not related to Caribou's performance or data.
Termination effective October 25, 2023; all licenses under the 2021 Collaboration and License Agreement will end.
Two preclinical allogeneic CAR-T programs targeting a single cancer target or target combination will be discontinued.
No financial terms of termination disclosed; Caribou loses potential milestones and royalties from AbbVie programs.
Caribou retains its Cas12a chRDNA genome-editing and CAR-T technologies for other partnerships.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Caribou Biosciences, Inc. terminated Collaboration and License Agreement with AbbVie Manufacturing Management Unlimited Company valued at Agreement terminated for convenience by AbbVie (effective 2023-10-25).

Action: termination
Agreement: collaboration
Counterparty: AbbVie Manufacturing Management Unlimited Company
Value: Agreement terminated for convenience by AbbVie
Effective: 2023-10-25

Exact text from the filing

On September 26, 2023, Caribou Biosciences, Inc. (the “Company”) received notice from AbbVie Manufacturing Management Unlimited Company (“AbbVie”) that AbbVie has elected to terminate the Collaboration and License Agreement, as amended, by and between the Company and AbbVie, dated February 9, 2021 (the “Agreement”).

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Caribou Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001619856-23-000112

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