CARGO Therapeutics, a Phase 2 biotech developing CAR T cell therapies for cancer, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
CARGO Therapeutics' lead program, CRG-022, is an autologous CD22 CAR T-cell candidate, the underlying CAR of which the company exclusively licensed from the National Cancer Institute. This past August, the company initiated a potentially pivotal Phase 2 trial of CRG-022 in patients with large B-cell lymphoma whose disease relapsed or was refractory to CD19 CAR T-cell therapy. Interim results are expected in 2025.
The San Mateo, CA-based company was founded in 2019 and plans to list on the Nasdaq under the symbol CRGX. CARGO Therapeutics filed confidentially on September 1, 2023. J.P. Morgan, Jefferies, TD Cowen, and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
