Carisma Therapeutics

2024 was a challenging year for the biopharma industry, with companies like Bayer, Bristol Myers Squibb, and Johnson & Johnson cutting hundreds to thousands of jobs. Cassava Sciences announced layoffs of 10 employees, 33% of its workforce, following a failed Phase III trial for its Alzheimer's drug. CytomX Therapeutics cut 40% of its staff to focus on clinical programs. Velia, a San Diego biotech, is shutting down, affecting 47 employees. Regeneron's acquisition of Oxular led to layoffs, with no Oxular employees joining Regeneron. Javara, Ring Therapeutics, Outlook Therapeutics, Editas, Bavarian Nordic, BenevolentAI, Chroma Medicine and Nvelop Therapeutics, Cellectar Biosciences, Carisma Therapeutics, Belharra Therapeutics, National Resilience, AmplifyBio, Agenus, Alligator Bioscience, Idorsia Pharmaceuticals, Kronos Bio, Novartis, Recursion Therapeutics, Medigene, Alector, Bristol Myers Squibb, Sonata Therapeutics, 23andMe, Johnson & Johnson, Merck, Gilead Sciences, Adaptimmune, Sensei Biotherapeutics, Marinus Pharmaceuticals, Orna Therapeutics, Thermo Fisher Scientific, Charles River Laboratories, Aurinia Pharmaceuticals, Viracta Therapeutics, Astellas Gene Therapies, Sana Biotechnology, Sage Therapeutics, Compass Pathways, Spero Therapeutics, ICON, Pfizer, Takeda, SalioGen Therapeutics, Evonik, Medtronic, CareFusion Resources, Turnstone Biologics, Leo Pharma, Astellas Pharma, Prime Medicine, Kaléo, Stryker, Relay Therapeutics, ImmunityBio, Shattuck Labs, Inventprise, bluebird bio, Athira Pharma, AGC Biologics, Oncternal Therapeutics, Biosense Webster, Vesigen Therapeutics, Connect Biopharma, BioMarin, IN8bio, Edwards Lifesciences, DermTech, Repare Therapeutics, Genentech, Tome Biosciences, Aadi Bioscience, Lykos Therapeutics, Evotec, Galera Therapeutics, Grail, Ovid Therapeutics, Lexicon Pharmaceuticals, Acelyrin, Boundless Bio, FibroGen, Ajinomoto Bio-Pharma Services, AN2 Therapeutics, Entero Therapeutics, Precigen, Sumitomo Pharma America, uniQure, Vir Biotechnology, Arbutus Biopharma, HilleVax, and Bayer also announced significant layoffs, reflecting a tough year for the industry.

RNA therapy offers precision targeting, rapid development, broad therapeutic potential, non-permanent effects, and customization for personalized medicine. Clinical trials highlight RNA therapy's promise in treating genetic disorders, cancers, and infectious diseases, with mRNA vaccines demonstrating agility during COVID-19. Advances in RNA delivery systems and platform technology enhance scalability and versatility, paving the way for effective treatments.

Slone Partners assisted in recruiting Amy Nicole Nayar as the new president and CEO of the Personalized Medicine Coalition (PMC), effective January 1, 2025. Nayar, with over 25 years in global health, will focus on expanding PMC's influence in education, advocacy, and evidence development for personalized medicine.

Carisma Therapeutics presents preclinical data on engineered macrophages for liver fibrosis treatment, showing significant reduction in fibrosis and hepatic stellate cell activation in MASH models.

Interius BioTherapeutics achieves milestone with first in vivo CAR therapy, INT2104, for B-cell malignancies, aiming to address supply and cost issues in CAR T cell therapy. The company plans to release early clinical data in 2025, focusing on safety before dose escalation. In vivo approach promises faster, cheaper, and potentially broader patient reach compared to ex vivo methods, though safety and efficacy data are still pending.

Industry-sponsored cancer trials significantly outpace federally sponsored trials in enrollment, prompting concerns over the unique role of federal research in patient-friendly and diverse studies. Federally sponsored trials focus on broader issues like combination therapies and supportive care, unlike industry-sponsored trials primarily aimed at drug approvals. The study highlights the need for increased funding and support for federal trials to ensure comprehensive cancer research.

Philadelphia-area life sciences industry nears 900 layoffs since 2022 due to reduced investment and focus on late-stage development, with companies like Verrica Pharmaceuticals and Spark Therapeutics cutting jobs.

Resolution Therapeutics secures $85 million in series B financing to advance RTX001, a pro-regenerative macrophage therapy for end-stage liver disease, into clinical trials. RTX001 aims to address severe inflammation and fibrosis, with a phase 1/2 EMERALD trial set to begin in Q4 2024. The financing also supports pipeline growth and manufacturing enhancements.

Carisma Therapeutics, founded in 2016, pivoted from CAR-M to CAR-Monocyte therapy, focusing on CT-0525, which received FDA Fast Track designation. The company, now public, expanded its collaboration with Moderna into autoimmune diseases, securing funding into Q3 2025. CT-0525 aims to address solid tumors more effectively than previous CAR-M therapies.

BioNJ Manufacturing Briefing 2024 highlighted trends, funding, training, quality management, Fourth Industrial Revolution impacts, and FDA innovations in biopharmaceutical manufacturing.