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Carisma Therapeutics Inc. (Nasdaq: CARM) is a pioneering clinical-stage biopharmaceutical company headquartered in Philadelphia, PA. The company's primary focus is on the discovery and development of innovative immunotherapies using its proprietary macrophage and monocyte cell engineering platform. Carisma's mission is to create transformative treatments for cancer and other serious diseases.

One of the company's flagship products is CT-0508, a human epidermal growth factor receptor 2 (HER2) targeted chimeric antigen receptor macrophage (CAR-M). CT-0508 is currently being evaluated in a landmark Phase 1 multi-center clinical trial for patients with recurrent or metastatic HER2-overexpressing solid tumors. These tumors do not respond to existing HER2-targeted therapies, making this trial a critical step forward. The trial represents the first time engineered macrophages are being studied in humans and is conducted across seven clinical sites in the U.S., including prominent institutions like the University of Pennsylvania Abramson Cancer Center and the MD Anderson Cancer Center.

In the second quarter of 2023, Carisma achieved a significant milestone by dosing the first patient in the Phase 1 trial of CT-0508 in combination with KEYTRUDA. This achievement underscores Carisma's commitment to advancing the field of engineered macrophages. The company believes it is well-positioned to drive innovation and deliver value to its stakeholders, thanks to its comprehensive and differentiated cell therapy platform.

Financially, Carisma reported having $117.1 million in cash, cash equivalents, and marketable securities as of June 30, 2023. This financial position is expected to sustain the company's planned operations through the end of 2024, providing a solid runway for its ongoing and upcoming projects.

Additionally, Carisma is engaged in various strategic partnerships, research programs, and academic collaborations to further its mission. The company continues to explore new avenues for innovation within its HER2 franchise and across its broader pipeline, aiming for potential value inflection points in the near future.

For more information, visit Carisma's official website at www.carismatx.com.