Carisma Therapeutics Cuts Workforce by 37% and Halts CT-0508 Clinical Program to Focus on Promising CAR-Monocyte Candidate CT-0525

Apr 02, 2024 17:15 CST Updated 17:15

Carisma Therapeutics

Developer of Cell Immunotherapy

On April 1, Carisma Therapeutics announced a 37% layoff and the termination of a clinical pipeline (including CT-0508 as monotherapy and in combination) to support the company’s growth through the third quarter of 2025.

Affected by this news, the company's stock price fell by 7.93%, with a total market value of 86.8239 million US dollars.

Source: Xueqiu

Carisma Therapeutics, Inc. was founded in 2016 and went public in March 2023. It is a pioneer in the field of chimeric antigen receptor macrophages (CAR-M), committed to leveraging advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cell therapy to treat diseases.

Carisma Therapeutics has established a differentiated, proprietary cell therapy platform focused on engineered macrophages and monocytes, which play a crucial role in both innate and adaptive immune responses. The company currently has three pipelines in clinical stages.

Carisma’s Overall Pipeline (Source: Carisma Official Website)

CT-0508, which is about to be terminated in development, is a chimeric antigen receptor macrophage (CAR-macrophage, CAR-M). An open-label Phase I trial is studying the drug's effects in patients with HER2-overexpressing solid tumors. Last year, they released early data from 14 patients, indicating that this therapy was well-tolerated, reshaped the tumor microenvironment, and induced anti-tumor T-cell immunity in some patients.

However, Carisma believes that its chimeric antigen receptor-monocyte (CAR-monocyte, i.e., CT-0525) holds more promise and plans to halt the recruitment of new patients for the CT-0508 trial. Additionally, the company has terminated a sub-study evaluating the combination of CT-0508 with Keytruda.

CAR-monocyte has the potential to address some of the challenges in treating solid tumors with cell therapy, including tumor infiltration, immunosuppression within the tumor microenvironment, and antigen heterogeneity. Compared to CT-0508, CT-0525 shows potential for significant dose escalation, enhanced tumor infiltration, increased persistence, and reduced manufacturing time.

Carisma Therapeutics Initiated an Open-Label Phase I Clinical Trial to Evaluate the Candidate Drug in Early 2024, with the First Patient Dosing Expected in Q2. Preliminary Data is Anticipated to be Reported by the End of 2024. This Study Will Enroll Approximately 6 Patients, with the Primary Completion Date Set for March 2025.

Steven Kelly, President and CEO of Carisma Therapeutics, stated: "We believe CT-0525 could represent a significant advancement in CAR-monocyte therapy, and as such, we have decided to focus our resources on the clinical development of the product that is best positioned to benefit patients with unmet needs."

References:

https://ir.carismatx.com/news-releases/news-release-details/carisma-therapeutics-provides-business-update-and-reports-fourth

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