Adicet Bio is a clinical-stage biotechnology company developing allogeneic, or "off-the-shelf," gamma delta T cell therapies for autoimmune diseases and cancer. Adicet has no approved products and generates no revenue. The company engineers donor-derived Vδ1 gamma delta T cells with chimeric antigen receptors (CARs) — proteins that direct the T cells to attack specific targets — and because these cells come from donors rather than patients, they can be manufactured in bulk, stored, and administered on demand. This contrasts with most existing CAR T therapies, which must be custom-built from each patient's own cells, a process that takes weeks, carries meaningful manufacturing failure risk, and costs roughly $1M per patient all-in. Adicet's lead program, prula-cel, targets CD20, a protein expressed on B cells that drive many autoimmune diseases. Prula-cel is in a Phase 1 trial across lupus nephritis, systemic lupus erythematosus, systemic sclerosis, and rheumatoid arthritis, with a pivotal trial targeted for H2 2026. Adicet's second candidate, ADI-212, targets PSMA for metastatic castration-resistant prostate cancer, with an IND filing planned for Q3 2026. Adicet argues that gamma delta T cells naturally avoid graft-versus-host disease, have favorable tolerability, and home to tissues and tumors — properties that differentiate them from competing allogeneic approaches using edited alpha beta T cells or NK cells. The company has partnerships with Regeneron and CRISPR Therapeutics, though neither has generated revenue to date. Adicet funds operations entirely through equity capital raises.