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 ‌