Cloud hangs over Allogene after partner's abrupt exit

Investors are jittery after the sudden departure of French drugmaker Servier from a collaboration in oncology with San Francisco’s Allogene Therapeutics (Nasdaq: ALLO).

The young company, founded by Kite Pharma veterans Arie Belldegrun and David Chang, has been trying to replicate the pioneering success of that firm, in part using an allogeneic CAR-T portfolio in-licensed from Pfizer (NYSE: PFE).

Allogene’s work with Servier is directed at developing certain “off-the-shelf” anticancer treatments, a step up from the first generation of CAR-T cell therapies, outside of the USA.