Pfizer invests over Rs 206 crore to buy minority stake in Caribou Biosciences
Caribou said on Thursday it would use the proceeds from Pfizer's investment to advance its experimental CAR-T cell therapy, CB-011, that is currently being tested in an early-stage trial in patients with a type of blood cancer.
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New York: Pfizer has invested $25 million to buy a minority stake in Caribou Biosciences, making it the latest small biotechnology firm to attract the pharmaceutical giant's interest.
Pfizer purchased nearly 4.7 million Caribou shares at $5.33 per share, Caribou said on Thursday, representing a premium of about 30% over Caribou's previous close price. This represents 7.64% of outstanding shares in Caribou, according to Reuters' calculation based on Refinitiv IBES data.
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