Caribou says AbbVie has pulled out of collaboration
CRISPR genome-editing biopharma company Caribou Biosciences (Nasdaq: CRBU) dipped 3% to $4.76, after it revealed it has received notice from a unit of AbbVie (NYSE: ABBV) revealing that the US pharma major has elected to terminate the collaboration and license agreement, first signed in February 2021.
In a filing with the Securities and Exchange Commission (SEC), Caribou said that AbbVie exercised its right to terminate the agreement for convenience, and this decision was based on AbbVie’s strategic focus and was unrelated to Caribou’s performance under the agreement or the data generated to date.
By mutual agreement of Caribou and AbbVie, termination of the agreement will be effective October 25, 2023.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze