CARGO Therapeutics
CARGO developed a CAR T-cell therapy aimed at a protein called CD22 for patients with large B-cell lymphoma whose cancer had come back after CD19 CAR T treatment. It went public in 2023 and was bought by Concentra Biosciences in 2025 after winding down development.
Overview
CARGO Therapeutics was a clinical-stage cell therapy company whose lead candidate, CRG-022, was an autologous CD22-directed chimeric antigen receptor (CAR) T-cell product for relapsed or refractory large B-cell lymphoma, including patients who had progressed after CD19 CAR T-cell therapy. The company began a potentially pivotal phase 2 trial (NCT05972720) in 2023 and completed a Nasdaq IPO raising about $281 million in November 2023. In July 2025 CARGO, by then describing itself as a company that had focused on CAR T-cell development, agreed to be acquired by Concentra Biosciences for $4.379 per share in cash plus a contingent value right tied to closing net cash above $217.5 million and to any disposition of remaining product candidates. The tender offer closed on 18 August 2025 and the merger completed the next day.
Funding
All startupsInvestors not recorded; see the round sources.
| Round | Year | Amount | Source |
|---|---|---|---|
| Acquisition · $4.379 in cash per share plus a contingent value right; tender offer completed 18 August 2025 | 2025 | undisclosed | sec.gov |
| IPO · 18,750,000 shares at $15.00; Nasdaq CRGX | 2023 | $281M | sec.gov |
Amounts only where the cited source states them. Rounds without a public source are not listed.
Notes
top- Company website cargo-tx.com no longer resolves, so the SEC EDGAR company page is given as the website. Former Nasdaq ticker CRGX. Dateline was San Mateo in December 2023 and San Carlos in July 2025.