Shots:

• Carisma to receive a $45M up front along with research funding & is eligible to receive development, regulatory, and commercial milestone along with royalties on net sales of the products
• The collaboration combines Moderna’s expertise in mRNA and LNP technologies with Carisma's expertise in engineered macrophage biology to develop in vivo CAR-M therapeutics for the treatment of cancer
• Carisma will lead the discovery and optimization of development products while Moderna gets an option to nominate ~12 targets & will be responsible for clinical development and commercialization of therapeutics that emerges from the collaboration

Ref: PR Newswire | Image: Moderna