Carisma Therapeutics Inc., a biopharmaceutical company focused on discovering and developing innovative immunotherapies based on a CAR-modified macrophage platform technology and co-founded by Penn Medicine’s Dr. Saar Gill, closed its Series B equity financing this year bringing the total amount raised in this round to $59 million and Carisma’s total capital raised to date up to nearly $121 million.
Dr. Gill is assistant professor of Medicine in the Perelman School of Medicine at the University of Pennsylvania and chair of the company’s scientific advisory board.
This Series B round included follow-on funding from founding investors, IP Group, Inc. and Penn Medicine, as well as an investment from new investor 4BIO Capital. They joined the initial Series B investor syndicate of SymBiosis II, Solasta Ventures, Livzon Pharmaceuticals Group, AbbVie Ventures, HealthCap, Wellington Partners, TPG Biotech, Agent Capital and MRL Ventures Fund.
Carisma has an ongoing research partnership with Penn, funding research programs in the Gill laboratory and a phase I clinical trial of Carisma’s lead product CT-0508, which recently was granted Fast Track Designation by the FDA.