IP Group was among the investors for UPenn-founded cancer immunotherapy developer Carisma Therapeutics, which has now raised nearly $109m altogether.

Carisma Therapeutics, a US-based cancer immunotherapy spinout of University of Pennsylvania, closed a $47m series B round on Thursday featuring commercialisation firm IP Group.
The round was led by investment fund Symbiosis II and also included drug development firms Livzon Pharmaceutical, Merck & Co and AbbVie, the latter two participating through MRL Ventures Fund and AbbVie Ventures respectively.
Solasta Ventures, HealthCap, Wellington Partners, TPG Biotech and Agent Capital filled out the deal.
Founded in 2016, Carisma develops cancer drugs targeting immune system cells called macrophages to treat metastatic solid tumours. Patients are currently being enrolled for a phase 1 study for Carisma’s lead candidate, CT-0508.
Beyond financing the trial, the money will also sustain Carisma’s R&D activities, including targeting non-oncology indications.
Carisma has now collected approximately $109m in funding altogether, it said.
The spinout closed a $59m series A round in late 2018…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?