Carisma and Moderna Expand Collaboration to Develop Two In Vivo CAR-M Therapies for Autoimmune Diseases

Rhea-AI Summary

Carisma Therapeutics Inc. (Nasdaq: CARM) has expanded its collaboration with Moderna, Inc. (Nasdaq: MRNA) to develop in vivo CAR-M therapies for autoimmune diseases. This expansion builds on their successful pre-clinical oncology data and includes the nomination of two autoimmune disease targets by Moderna. Carisma will receive research funding and is eligible for milestone and royalty payments.

The collaboration leverages Carisma's proprietary CAR-M technology and Moderna's mRNA/LNP platform. Carisma will handle discovery and optimization of development candidates, while Moderna will lead clinical development and commercialization. This partnership aims to revolutionize treatments for autoimmune conditions, expanding the potential of CAR-M technology beyond oncology.

Positive

• Expansion of collaboration into autoimmune diseases, potentially broadening market opportunities
• Carisma to receive research funding and potential milestone and royalty payments
• Leveraging Carisma's CAR-M technology with Moderna's mRNA/LNP platform for innovative treatments
• Carisma retains rights to autoimmune disease targets beyond the two nominated by Moderna

Negative

• None.

Biotechnology Analyst

This expanded collaboration marks a significant milestone in the development of CAR-M therapies for autoimmune diseases. The partnership leverages Carisma's expertise in macrophage engineering and Moderna's mRNA/LNP platform, potentially creating a powerful synergy in the autoimmune space.

The nomination of two targets by Moderna indicates strong confidence in the preliminary data and the potential of this approach. While specific financial terms aren't disclosed, the milestone-based structure aligns incentives and could provide Carisma with substantial future revenue streams if the therapies prove successful.

Investors should note that this expansion diversifies Carisma's portfolio beyond oncology, potentially reducing risk. However, autoimmune diseases present unique challenges and success is not guaranteed. The collaboration's success could position Carisma as a leader in macrophage-based therapies across multiple indications.

Immunology Researcher

The application of CAR-M technology to autoimmune diseases represents an innovative approach with significant potential. Macrophages play a important role in autoimmune pathogenesis and reprogramming them could lead to more targeted and effective treatments compared to current broad immunosuppressive strategies.

While the specific autoimmune targets aren't disclosed, this technology could potentially address a wide range of conditions, from rheumatoid arthritis to lupus. The in vivo approach, if successful, could offer improved safety profiles and more consistent therapeutic effects compared to ex vivo cell therapies.

However, the complexity of autoimmune diseases and the potential for off-target effects remain significant challenges. The success of this collaboration will largely depend on careful target selection and the ability to achieve precise macrophage modulation in vivo.

Financial Analyst

This expanded collaboration strengthens Carisma's financial position and growth prospects. While specific financial terms aren't disclosed, the structure including research funding, milestones and royalties provides multiple revenue opportunities. The deal reduces Carisma's R&D burden while maintaining significant upside potential.

Moderna's involvement lends credibility to Carisma's technology and could attract investor attention. However, investors should note that autoimmune therapies often have long development timelines and high failure rates. The lack of specific financial details makes it challenging to quantify the near-term impact on Carisma's valuation.

This deal diversifies Carisma's pipeline and potential revenue streams, which could reduce overall business risk. The company's ability to expand its platform beyond oncology demonstrates versatility, potentially increasing its long-term value proposition. Investors should monitor clinical progress and any future disclosures of financial terms to better assess the collaboration's impact.

Building on successful pre-clinical in vivo CAR-M data in oncology, the companies will develop in vivo CAR-M for autoimmune diseases

Moderna nominated two autoimmune disease targets under the collaboration

Carisma is eligible to receive milestones and royalty payments

PHILADELPHIA, Sept. 10, 2024 /PRNewswire/ -- Carisma Therapeutics Inc. (Nasdaq: CARM) ("Carisma" or the "Company"), a clinical stage biopharmaceutical company focused on discovering and developing innovative immunotherapies, today announced the expansion of its in vivo chimeric antigen receptor macrophage and monocyte (together, "CAR-M") collaboration with Moderna, Inc. (Nasdaq: MRNA) to include the nomination of two targets for the treatment of autoimmune diseases. Carisma retains all rights in autoimmune disease beyond the two nominated targets, which will be exclusively partnered with Moderna.

Under this expanded collaboration, Carisma and Moderna will leverage Carisma's proprietary CAR-M technology and Moderna's mRNA/LNP platform to develop novel in vivo macrophage engineering approaches in the nominated autoimmune disease targets. 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 collaboration 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.

"We are excited to expand our collaboration with Moderna into the realm of autoimmune diseases," said Steven Kelly, President and Chief Executive Officer of Carisma. "The nomination of the two autoimmune targets is a significant milestone in our mission to harness the power of macrophages to treat a broader range of diseases. Our innovative CAR-M technology has the potential to revolutionize the treatment landscape for patients suffering from these debilitating conditions."

"We are excited to build on the progress of advancing in vivo CAR-M therapies with Carisma by expanding beyond oncology," said Lin Guey, PhD, CSO of Therapeutic Research Ventures, Moderna. "We continue to believe that the combination of our platform and Carisma's deep myeloid biology expertise could lead to innovative treatments for patients."

The expanded collaboration between Carisma and Moderna underscores the potential of CAR-M technology to impact a diverse range of disease areas. The expansion will aim to bring transformative therapies to patients with cancer and autoimmune diseases, advancing the frontier of immunotherapy.

About Carisma Therapeutics

Carisma Therapeutics Inc. is a clinical stage biopharmaceutical company focused on utilizing our proprietary macrophage and monocyte cell engineering platform to develop transformative immunotherapies to treat cancer and other serious diseases. We have created a comprehensive, differentiated proprietary cell therapy platform focused on engineered macrophages and monocytes, cells that play a crucial role in both the innate and adaptive immune response. Carisma is headquartered in Philadelphia, PA. For more information, please visit www.carismatx.com.

Cautionary Note on Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Carisma's business, strategy, future operations, cash runway, the advancement of Carisma's product candidates and product pipeline, and clinical development of Carisma's product candidates, including expectations regarding timing of initiation and results of clinical trials. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "goals," "intend," "may," "might," "outlook," "plan," "project," "potential," "predict," "target," "possible," "will," "would," "could," "should," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, (i) Carisma's ability to realize the anticipated benefits of its pipeline reprioritization and corporate restructuring, (ii) Carisma's ability to obtain, maintain and protect its intellectual property rights related to its product candidates; (iii) Carisma's ability to advance the development of its product candidates under the timelines it anticipates in planned and future clinical trials and with its current financial and human resources; (iv) Carisma's ability to replicate in later clinical trials positive results found in preclinical studies and early-stage clinical trials of its product candidates; (v) Carisma's ability to realize the anticipated benefits of its research and development programs, strategic partnerships, research and licensing programs and academic and other collaborations; (vi) regulatory requirements or developments and Carisma's ability to obtain and maintain necessary approvals from the U.S. Food and Drug Administration and other regulatory authorities related to its product candidates; (vii) changes to clinical trial designs and regulatory pathways; (viii) risks associated with Carisma's ability to manage expenses; (ix) changes in capital resource requirements; (x) risks related to the inability of Carisma to obtain sufficient additional capital to continue to advance its product candidates and its preclinical programs; and (xi) legislative, regulatory, political and economic developments.

For a discussion of these risks and uncertainties, and other important factors, any of which could cause Carisma's actual results to differ from those contained in the forward-looking statements, see the "Risk Factors" set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, as well as discussions of potential risks, uncertainties, and other important factors in Carisma's other recent filings with the Securities and Exchange Commission. Any forward-looking statements that are made in this press release speak as of the date of this press release. Carisma undertakes no obligation to revise the forward-looking statements or to update them to reflect events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws.

Investors:
Shveta Dighe
Head of Investor Relations
investors@carismatx.com

Media Contact:
Julia Stern
(763) 350-5223
jstern@realchemistry.com

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SOURCE Carisma Therapeutics Inc.

FAQ

What is the focus of Carisma and Moderna's expanded collaboration?

The expanded collaboration between Carisma (CARM) and Moderna focuses on developing two in vivo CAR-M therapies for autoimmune diseases, building on their previous work in oncology.

How many autoimmune disease targets did Moderna nominate under the collaboration with Carisma (CARM)?

Moderna nominated two autoimmune disease targets under the expanded collaboration with Carisma Therapeutics (CARM).

What are the financial terms of the expanded collaboration between Carisma (CARM) and Moderna?

Carisma (CARM) will receive research funding and is eligible for development, regulatory, and commercial milestone payments, plus royalties on net sales of any commercialized products resulting from the collaboration.

What technologies are being combined in the Carisma (CARM) and Moderna collaboration for autoimmune diseases?

The collaboration combines Carisma's (CARM) proprietary CAR-M technology with Moderna's mRNA/LNP platform to develop novel in vivo macrophage engineering approaches for autoimmune diseases.