Venture Capital News: CARISMA Therapeutics Lands $47M Series B
PHILADELPHIA, PA, CARISMA Therapeutics has completed its Series B equity financing providing for gross proceeds of $47 million.
CARISMA Therapeutics, 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.
The investment was led by Symbiosis II, LLC, with investment from new investors Solasta Ventures and Livzon Pharmaceutical Group Inc. Additionally, the round included participation from existing investors including AbbVie Ventures, HealthCap, Wellington Partners, IP Group, TPG Biotech, Agent Capital, and MRL Ventures Fund.
CARISMA Therapeutics is a biopharmaceutical company developing a differentiated and proprietary cell therapy platform focused on engineered macrophages, cells that play a crucial role in both the innate and adaptive immune response. The first applications of the platform, developed in collaboration with the University of Pennsylvania, are autologous chimeric antigen receptor (CAR)-macrophages for the treatment of solid tumors. CARISMA Therapeutics is headquartered in Philadelphia, PA.
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