Circio Holding ASA (”Circio” or ”the Company”) announced, on the 26th of March 2026, that the Company has entered a research collaboration with United Immunity Co., Ltd. (”United Immunity”), a Tokyo-based biotechnology company, to evaluate circVec in the context of in vivo CAR-Macrophage (CAR-M) therapy. Under the collaboration, United Immunity will test whether its proprietary P-LNP delivery platform can deliver circVec to myeloid immune cells, specifically macrophages and dendritic cells, with the aim of establishing a joint platform for in vivo CAR-M applications in cancer, fibrosis, and autoimmune disorders. No financial terms have been disclosed.

In summary, Analyst Group views the United Immunity collaboration as a meaningful and technically well-founded addition to Circio’s in vivo cell therapy portfolio. The two technologies address complementary bottlenecks, United Immunity solving the delivery problem, circVec the expression problem, and together could form the basis of a differentiated CAR-M platform. While no financial terms have been disclosed and the CAR-M space remains at an early preclinical stage, Analyst Group regards the collaboration as a longer-term optionality layer that incrementally strengthens circVec’s long-term licensing attractiveness, particularly in light of large pharmaceutical players committing multi-billion dollar capital to the in vivo cell therapy field.

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