Last checked at 27 Jun 2018 07:30
FOR RELEASE ON | 27 June 2018 |
IP Group - Portfolio company Carisma Therapeutics announces $53m Series A funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that US-based portfolio company Carisma Therapeutics Inc. ("Carisma" or "the Company"), has announced a $53 million Series A fundraising.
Carisma Therapeutics' discovery and development efforts are focused on its proprietary CAR-Macrophage platform, uniquely combining antigen recognition with the effector function of macrophages. Initial applications include targeting and killing solid tumors. The Company's therapeutic candidates also leverage macrophage antigen-presenting cell biology with the potential to mount an adaptive immune response. Carisma anticipates initiating clinical development in 2019.
The financing was led by AbbVie Ventures and HealthCap and includes existing seed investors IP Group, Penn Medicine and Grazia Equity. Carisma is also proud to welcome new investors Wellington Partners, TPG Biotech, MRL Ventures Fund and Agent Capital.
IP Group has committed to invest a total of $8.5m of the round, which is tranched and subject to the achievement of certain milestones. The Group has invested $4.25 million in the first tranche of the fundraising.
For more information, please contact:
IP Group plc - www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer | +44 (0) 20 7444 0050 |
Greg Smith, Chief Financial Officer |
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Liz Vaughan-Adams, Communications | +44 (0) 20 7444 0062/+44 (0) 7979 853802 |
IP Group North America -- www.ipgroup-inc.com
Frank De Maria | +1 347 647 0284 |
Charlotte Street Partners
Andrew Wilson | +44 (0) 7810 636995 |
Martha Walsh | +44 (0) 7876 245962 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.
For more information, please visit our website at www.ipgroupplc.com.
ENDS