The spinout has revealed it added approximately $6m to a series A round backed by University of Pennsylvania and IP Group last year, bringing its total size to about $59m.
Carisma Therapeutics, a US-based immunotherapy spinout of University of Pennsylvania, has increased a series A round backed by commercialisation firm IP Group to approximately $59m, Technically Philly reported on Thursday.
The company secured approximately $6m in an extension towards the end of 2018, according to chief executive Steven Kelly. He did not reveal the identity of investors or specify when exactly the extension was secured.
Carisma had achieved a first $53m close for the round in June 2018 backed by IP Group and Penn Medicine, the health system owned by University of Pennsylvania.
The initial close was co-led by pharmaceutical firm AbbVie’s corporate venturing unit, AbbVie Ventures, and VC firm HealthCap. Pharmaceutical firm Merck & Co’s MRL Ventures Fund also participated, as did Grazia Equity, Wellington Partners, TPG Biotech and Agent Capital.
Founded in 2016 as Carma Therapeutics, Carisma is developing immunotherapies that rely on…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
