CARISMA Therapeutics Completes Series B Funding to Advance Development of Novel CAR-Macrophage Immunotherapies
January 7, 2021
PHILADELPHIA, Jan. 7, 2021 /PRNewswire/ — CARISMA Therapeutics Inc., a biopharmaceutical company focused on discovering and developing innovative immunotherapies, announced today that it has completed its Series B equity financing providing for gross proceeds of $47 million, bringing CARISMA’s total capital raised to nearly $109 million. The funding will be used to advance current pipeline and discovery programs, including the Phase I clinical trial of CARISMA’s lead candidate, CT-0508, an anti-human epidermal growth factor receptor 2 (HER2) targeted chimeric antigen receptor macrophage (CAR-M), which recently initiated trial enrollment and patient screening for the first-of-its-kind, first-in-human study of CAR-M. The funding will also allow CARISMA to further develop its proprietary engineered-macrophage platform, continue pipeline expansion in cancer indications and enable the platform’s application to disease areas outside of cancer.
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