IP Group PLC Carisma announces $53m Series A funding round
27 June 2018 - 4:30PM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
27 June 2018
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
+44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 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
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END
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