The combined company will have ~$180M in cash, cash equivalents & marketable securities incl. $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
