Caribou Gains In Pre-market After Getting $25 Mln Equity Investment From Pfizer

(RTTNews) - Caribou Biosciences, Inc. (CRBU) a clinical stage bio-pharmaceutical company, announced on Thursday that Pfizer Inc. (PFE) has invested $25 million of equity in the company. The deal was closed on June 30.

Pfizer has acquired 4,690,431 common stocks of Caribou at $5.33 per share. The securities sold in this transaction were not involved in a public offering and have not been registered under the securities act of 1933.

Caribou will use the proceeds to further its CB-011 program, an immune cloaked allogeneic CAR-T cell therapy.

Caribou will continue to maintain full ownership of its allogeneic CAR-T and CAR-NK cell therapies.

Sriram Krishnaswami, the vice president and head of clinical development of Pfizer, has joined Caribou's Scientific Advisory Board.

Currently, shares of Caribou are trading at $6.36 up 58.04% on Nasdaq. Pfizer shares are trading at $36.11 down 0.96% or $0.35 on the New York Stock Exchange.