Carisma inks deal with Moderna on CAR-M for oncology

USA-based Carisma Therapeutics, a biopharmaceutical pioneering portfolio company of 4BIO Capital, has entered into a strategic collaboration with US mRNA specialist Moderna (Nasdaq: MRNA).

The agreement will see the two companies collaborate to discover, develop and commercialize in vivo engineered chimeric antigen receptor monocyte (CAR-M) therapeutics for the treatment of cancer.

Under the terms of the agreement, Carisma, a University of Pennsylvania spinout founded in 2016, will receive a $45 million up-front cash payment and an investment by Moderna in the form of a $35 million convertible note. Carisma will receive research funding and is eligible to receive development, regulatory, and commercial milestone payments, plus royalties on net sales of any products that are commercialized under the agreement. Carisma will be responsible for the discovery and optimization of development candidates while Moderna will lead the clinical development and commercialization of therapeutics resulting from the agreement. Moderna has the option to nominate up to twelve targets for development and commercialization.