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Caribou engineers donor immune cells into off-the-shelf cancer treatments, like a universal blood-cancer drug that skips the patient's own cells.
Money comes from a collaboration with AbbVie, but revenue is tiny (USD 0.01B in 2025) and gross margin is negative, so the business burns cash with no recurring product sales.
Its CRISPR-based allogeneic platform is hard to replicate, but rivals like Allogene Therapeutics and CRISPR Therapeutics are racing in the same space, and clinical setbacks could erode the edge.
