In order to focus on its most high-potential programs, Carisma Therapeutics has announced a strategic reprioritization of its pipeline along with a workforce reduction.
As part of the reprioritization, Carisma will discontinue development of the anti-human epidermal growth factor receptor 2 (anti-HER2) program and redirect the company's focus to developing off-the-shelf products using its in vivo macrophage engineering platform for the development of fibrosis, oncology and autoimmune disease therapies. The decision to halt CT-0525, currently in phase 1, is based on “an assessment of the competitive landscape in anti-HER2 treatments,” according to Carisma.
Carisma, which has approximately 70 employees, will reduce its workforce by 34%. The company expects the layoffs to be substantially complete by the end of the first quarter of 2025. As part of the workforce cuts, the company’s CFO, general counsel, and senior VP of human resources will leave Carisma effective December 31, 2024.
Philadelphia-based Carisma aims to develop a differentiated and proprietary cell therapy platform focused on engineered macrophages — cells that play a crucial role in both the innate and adaptive immune response. The company is using its platform in a collaboration with Moderna to advance multiple programs utilizing an in vivo chimeric antigen receptor macrophage and monocyte ("CAR-M") plus mRNA/LNP approach. The lead program is an anti-glypican 3 (GPC3) in vivo CAR-M therapy that has demonstrated the potential for this scalable, patient-friendly approach to transform solid tumor therapy. In addition to this program, Moderna has nominated four undisclosed oncology research targets under the collaboration and has the right to designate up to 10 oncology targets as development targets.
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