Caribou Biosciences (CRBU) H.C. Wainwright 4th Annual BioConnect Investor Conference summary

Company and technology overview

• Advancing two allogeneic CAR T-cell programs: vispa-cel (CD19, large B-cell lymphoma) and CB-011 (BCMA, multiple myeloma).

• Utilizes next-generation CRISPR-Cas base editing for precise, multigenic cell modifications.

• Vispa-cel features PD-1 knockout for enhanced anti-tumor activity; CB-011 uses HLA-1 knockout for immune cloaking and longer persistence.

• Allogeneic CAR T cells sourced from young, healthy donors, improving durability and accessibility.

Competitive landscape and positioning

• Allogeneic CAR T offers off-the-shelf, rapid treatment for patients unable to access or wait for autologous CAR T.

• In vivo CAR T is in early development, with safety and engineering challenges expected over the next 5–10 years.

• Allogeneic CAR T is positioned to address unmet needs, especially for patients with insufficient or dysfunctional T cells.

Clinical data and trial updates

• Vispa-cel showed efficacy and safety comparable to autologous CAR T in a 35-patient dataset, with a 12-month PFS of 53%.

• Safety profile allows community center administration due to low rates of severe CRS and neurotoxicity.

• Partial HLA matching strategy enables treatment of over 99% of patients with about 10 lots, minimizing lag time.

• Upcoming EHA meeting will provide extended follow-up data from the ANTLER study, reinforcing current findings.