Carisma Therapeutics Announces a $53 Million Series A Financing to Develop Novel CAR Macrophage Cellular Immunotherapy

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.

Power Moves: A Penn spinout that wants to save lives through VR just hired a CEO

Are you prepared to save someone’s life if they suddenly collapse next to you on the street? ImmERge Labs already knows most people aren’t. Founded by University of Pennsylvania researcher Marion Leary — who heads up innovation research at Penn’s Center for Resuscitation Science, the startup is now out of stealth mode and hired Matt Grabowsky as its CEO.

Ostiio wants to improve quality of life for kids with craniofacial defects

Ostiio is a Philadelphia medical device startup that’s just a few months old but has big ambitions: improving the quality of life for children with craniofacial defects, such as craniosynostosis and defects in the midface or lower jaw. The company was part of an entourage of technology entrepreneurs from Philadelphia through the Penn Center for Innovation and Amplify Philly at the SXSW conference in Austin this week. Craniosynostosis is a condition in which one or more of the joints between an infant’s skull prematurely fuse before the brain is fully formed. The condition results in a misshapen head because the brain continues to grow, according to the Mayo Clinic’s website. It affects one in every 2,000 to 3,000 infants.