Steven Nichtberger, Cabaletta Bio CEO
Cabaletta lands $84M from stock sale after FDA clears INDs for CD19 CAR-T in autoimmune diseases
With the FDA’s clearance to put its CD19 CAR-T into two clinical trials for autoimmune diseases, Cabaletta Bio has scored $87 million from a public offering to foot the bill.
Cabaletta — a University of Pennsylvania spinout — sold 7,250,000 at $12 per share, which the company said will fund the development of CABA-201 in multiple indications, as well as to “advance manufacturing capabilities in preparation for late-stage clinical trials and commercial readiness for CABA-201.” Some of the money will also go toward its other programs.
To read Endpoints News become a free subscriber
Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters