Carisma Therapeutic to Go Public through Reverse Merger with Sesen Bio for CAR-M Therapies
Shots:
- The combined company will have ~$180M in cash, cash equivalents & marketable securities and $30M from concurrent financing by Carisma to fund the research pipeline through 2024. The merger is expected to close in the next 3 to 4 months
- The companies will use engineered macrophages & monocytes to advance Carisma's cell therapy platform in cancer & other serious disorders. Sesen Bio stockholders will own ~41.7% of the combined company while Carisma stockholders will own ~58.3%
- The combined company will operate under the name Carisma Therapeutics Inc. and will list on Nasdaq under the ticker symbol, CARM. Carisma is also working to expand its oncology pipeline through the collaboration with Moderna for in vivo CAR-M therapies for ~12 targets
Ref: Businesswire | Image: Carisma Therapeutic
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
