The cell therapy sector has recently experienced a series of high-profile exits by major pharmaceutical companies. Takeda, after investing more than eight years and significant financial resources into its cell therapy business, announced it would stop investing in the field and transfer its pipeline to an external partner. Shortly afterward, Novo Nordisk ended all its cell therapy projects, including those targeting type 1 diabetes, resulting in nearly 250 job losses. Belgian biotech Galapagos also closed its cell therapy division after failing to secure a buyer for its assets.
Cargo Therapeutics faced challenges earlier in the year when early data analysis raised concerns about its lead asset firi-cel, leading the company to end a mid-stage study and reduce staff by half. By March, Cargo had terminated most of its workforce and ceased development activities. Vertex Pharmaceuticals discontinued a project combining cell therapy with a device for type 1 diabetes protection.
Despite these setbacks, interest in cell therapies remains strong. At the American College of Rheumatology (ACR) meeting in 2025, sessions on CAR T-cell therapies drew large audiences. Lynelle Hoch, president of Bristol Myers Squibb’s Cell Therapy Organization, told BioSpace: “I can’t speak to why other companies are bailing,” Hoch said, but for BMS, there are plenty of reasons to stay. “BMS is uniquely positioned,” she continued. “We got in early and getting in early allowed us to build capabilities clinically, translationally and [in] manufacturing.”
Bristol Myers Squibb (BMS) is among the few companies with FDA-approved cell therapies and holds two CAR T products targeting different proteins: Abecma for multiple myeloma and Breyanzi for several blood cancers. The company continues to invest in CAR T technology, acquiring Orbital Therapeutics for $1.5 billion to expand its RNA-based immune reprogramming platform and exploring CAR Ts for autoimmune diseases.
Gilead Sciences is another key player through its subsidiary Kite. Last month, Kite entered into a partnership with Pregene from China—committing $120 million upfront and up to $1.5 billion in milestones—to advance "in vivo" therapies. In August, Kite acquired Interius BioTherapeutics for $350 million to further strengthen these capabilities. Gilead’s partnership with Arcellx has produced promising results; their candidate anitocabtagene autoleucel showed a 97% overall response rate in mid-stage trials for multiple myeloma.
Johnson & Johnson rounds out the group of leading CAR T developers with Carvykti—developed alongside Legend Biotech—for relapsed or refractory multiple myeloma. Carvykti recorded global sales of $963 million last year and achieved notable clinical trial outcomes: “In December last year, data from the Phase III CARTITUDE-4 study showed that 89% of Carvykti-treated participants had no detectable cancer cells at a median follow-up of three years, achieving high statistical significance versus current standard therapies.” J&J is also developing JNJ-4496 as a potential competitor to existing CD19-targeting therapies.
Beyond these major firms, smaller companies continue advancing new approaches despite market difficulties. Immatics—a German and Texas-based biotech—is focused on PRAME as an oncology target across more than 50 cancer types according to company information online. Its lead product anzu-cel is being evaluated as second-line treatment for cutaneous melanoma in the Phase III SUPRAME trial; interim analyses are expected next year ahead of a possible FDA submission in 2027.
Kyverna Therapeutics is working on KYV-101—a CAR T candidate designed by the National Institutes of Health—targeting CD19-positive B cells implicated in autoimmune diseases such as generalized myasthenia gravis (gMG). Recent Phase II/III trial data indicated a 100% response rate among six patients who previously received immunosuppressive treatments: “The magnitude of KYV-101’s benefits… makes it ‘differentiated from current therapies and other late-stage assets.’” Kyverna plans broader studies including rare conditions like stiff person syndrome and expects additional data next year.
Cabaletta Bio is developing CABA-201 (rese-cel), which targets CD19 using a unique approach intended to temporarily deplete B cells and reset immune function—potentially benefiting patients with autoimmune disorders such as dermatomyositis or systemic lupus erythematosus (SLE). Early results presented at ACR show improvement without ongoing immunomodulators: “Results showed a ‘moderate or major improvement’ in disease response 16 weeks after rese-cel treatment without the help of immunomodulators.” Cabaletta intends further regulatory engagement this year for pivotal trials across several indications.
While some industry leaders are leaving cell therapy behind due to scientific or commercial challenges, others remain committed—driven by ongoing advances and clinical results that could reshape treatments for cancer and autoimmune diseases alike.
