Novartis STAT+: Newborn Malaria Treatment Approved
# Biotech News Roundup: Cargo Therapeutics Shut Down, Novartis Secures Newborn Malaria Treatment Approval
The biotech landscape is constantly shifting, and this week brought both setbacks and important advancements. We’ll explore the closure of CAR-T therapy developer Cargo Therapeutics and the promising approval of Novartis’s malaria treatment, Coartem, for newborns. Let’s dive in.
## Cargo Therapeutics Acquired and Shut Down
in a swift turn of events, Cargo Therapeutics, a company focused on developing innovative CAR-T therapies, has been acquired and subsequently shut down. The buyer is Concentra Biosciences, a private company led by investor Kevin Tang.
This news highlights the inherent risks in the biotech industry, even for companies working on cutting-edge treatments. While the specifics of the acquisition remain largely undisclosed, it underscores the financial pressures and competitive landscape that can led to even promising ventures being absorbed and dissolved.
Here’s the original source for more details:
Foundering CAR-T therapy developer Cargo Therapeutics is being