- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- Fact Check
- Bone Health Fact Check
- Brain Health Fact Check
- Cancer Related Fact Check
- Child Care Fact Check
- Dental and oral health fact check
- Diabetes and metabolic health fact check
- Diet and Nutrition Fact Check
- Eye and ENT Care Fact Check
- Fitness fact check
- Gut health fact check
- Heart health fact check
- Kidney health fact check
- Medical education fact check
- Men's health fact check
- Respiratory fact check
- Skin and hair care fact check
- Vaccine and Immunization fact check
- Women's health fact check
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
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.
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.
The investment in the cell therapy developer follows a string of deals made by Pfizer over the past few years with the drugmaker flush with cash from sales of its COVID-19 products.
In 2021, Pfizer had made an initial upfront investment of $500 million, including a $350 million share purchase, in migraine drug maker Biohaven Pharmaceutical, a company it acquired the following year.
It also made a $25 million equity investment in Akero Therapeuticslast year. Akero is developing a drug to treat a type of fatty liver disease called nonalcoholic steatohepatitis (NASH), which affects 5% of Americans but currently has no approved treatments.
California-based Caribou was founded jointly by Jennifer Doudna, a co-recipient of the 2020 Nobel Prize in Chemistry for developing a genome editing process using CRISPR - a method used by bacterial defense system for millions of years to protect themselves against viruses.
Caribou, which is developing cell therapies using CRISPR genome editing, 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.
Read also: Pfizer growth hormone drug Ngenla gets USFDA okay for pediatric patients
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751