Carisma Therapeutics Inc , formerly CARMA Therapeutics a privately-held biotechnology company focused on the development of macrophage-based immunotherapeutics today announced the close of a 53 million Series A financing to further expand its technology platform and rapidly drive its programs toward clinical development The financing was led by AbbVie Ventures and HealthCap and includes existing seed investors IP Group Penn Medicine and Grazia Equity Carisma is also proud to welcome new investors Wellington Partners TPG Biotech MRL Ventures Fund and Agent Capital
Carisma Therapeutics discovery and development efforts are focused on their proprietary CAR-Macrophage platform – the first technology to combine antigen recognition with the effector function of macrophages The proposed dual mechanism of action includes the ability to directly kill targeted cells and the ability to leverage antigen-presenting cell biology to mount an adaptive immune response Initial applications for therapeutic candidates will be in the treatment of solid tumors Other potential applications include the disruption of protein aggregates in multiple disease states The company anticipates initiating clinical development in 2019
The Carisma management team is led by Steven Kelly CEO who brings nearly 30 years of diverse drug development and commercialization experience at a variety of biotechnology and pharmaceutical companies The team also includes Dora Mitchell PhD as Head of Operations and Daniel Cushing PhD heading development Carisma is continuing to build its team and currently recruiting a CSO and a CMO
Founded by Saar Gill MD PhD an assistant professor of Hematology-Oncology in Penn’s Abramson Cancer Center and Michael Klichinsky PharmD a PhD candidate in Systems Pharmacology and Translational Therapeutics in partnership with the UPstart Program of the Penn Center for Innovation at the University of Pennsylvania Carisma Therapeutics raised its incubation financing and began operations last summer The company’s founders will be joined on the Scientific Advisory Board by Drs Carl H June Lisa M Coussens Reinhard Andreesen and S Jane Flint
Carisma’s programs combine the unique effector function of macrophages with advances in CAR technology to create a revolutionary approach to adoptive cellular therapy commented CEO Steven Kelly We are thrilled about the composition of our financing syndicate which brings varied and deep experience in cell and gene therapy to further support our research and development efforts ”
The company’s Board of Directors will be comprised of Margarita Chavez JD Managing Director of AbbVie Ventures Jacob Gunterberg Partner of HealthCap Regina Hodits PhD Managing Partner of Wellington Partners Steven Kelly CEO Eran Nadav PhD Senior Advisor of TPG Biotech Althea Stillman PhD Associate Director at IP Group Inc ; and Bruce Peacock Chairman
About Carisma Therapeutics Inc
Carisma Therapeutics Inc formerly CARMA Therapeutics is a therapeutics company bringing the power of adoptive cellular immunotherapy to solid tumor patients through a differentiated platform using chimeric antigen receptor macrophages Carisma Therapeutics is headquartered in Philadelphia PA For more information visit www carismatx com
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