Shearman & Sterling advised the underwriters of Caribou Biosciences, Inc.’s initial public offering of 19 million shares of common stock at a public offering price of $16.00 per share, resulting in gross proceeds to the Company of approximately $304 million, before deducting underwriting discounts and commissions and offering expenses. The shares began trading on The Nasdaq Global Select Market under the ticker symbol “CRBU” on July 23, 2021.
BofA Securities, Citigroup, and SVB Leerink acted as joint book-running managers for this offering.
Caribou is a clinical-stage CRISPR genome-editing biopharmaceutical company dedicated to transforming the lives of patients with devastating diseases by applying the company’s proprietary chRDNA technology toward the development of next-generation, genome-edited allogeneic immune cell therapies. The company is developing a pipeline of genome-edited, off-the-shelf CAR-T and CAR-NK cell therapies for the treatment of both hematologic malignancies and solid tumors. The therapies target cell surface antigens for which autologous CAR-T cell therapeutics have previously demonstrated clinical proof-of-concept as well as additional emerging targets.
The Shearman & Sterling team below included Karen Mann, Daniel Moon and Austin Grossfeld.