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Industry Daily Summary

Industry Daily Summary: What Happened on October 7, 2026

Caribou Biosciences to close after failing to fund Phase 3 trial

Insmed is looking for a new finance chief, and Iovance appointed Noah Berkowitz as chief medical officer.

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  • Read from 2 articles, 2 publications

Today in brief

Caribou Biosciences will close and discontinue clinical development of its two CRISPR-based CAR-T therapies after failing to raise money for a planned Phase 3 lymphoma trial.1 The company had worked with the FDA on the trial design. CEO Rachel Haurwitz told STAT that raising the funds proved too difficult.1

Caribou will stop work on two CAR-T therapies

Caribou Biosciences said it is shutting down after it could not secure funding for a Phase 3 trial of its off-the-shelf CAR-T therapy for lymphoma.1 The company plans to end clinical development of two CRISPR-based CAR-T therapies, including vispa-cel for advanced B-cell non-Hodgkin lymphoma.1

Caribou worked with the FDA over the past year to finalize a Phase 3 design for vespa-cel.1 CEO Rachel Haurwitz told STAT that raising the money to run the study was too difficult.1

Also worth knowing

  • Insmed is seeking a replacement for Sara Bonstein, who is scheduled to step down October 30 after nearly seven years as CFO.2

  • During Bonstein's tenure, Insmed raised more than $4.2 billion.2

  • Iovance appointed Noah Berkowitz as chief medical officer, replacing Friedrich Graf Finckenstein, who moved to Link Cell Therapies.2

Also published