WilmerHale represented Carisma Therapeutics Inc., a biopharmaceutical pioneer in engineered macrophage-based therapeutics, in a strategic collaboration agreement with Moderna Inc. to discover, develop and commercialize in vivo engineered chimeric antigen receptor monocyte (CAR-M) therapeutics for cancer treatment.

The collaboration combines Carisma’s expertise in engineered macrophage biology and Moderna’s pioneering in vivo mRNA delivery technologies. The collaboration agreement provides for an up-front payment to Carisma of $45 million and an investment by Moderna in the form of a $35 million convertible note. Carisma will receive research funding and is eligible to receive development, regulatory, and commercial milestone payments, plus royalties on net sales of any products that are commercialized under the agreement.

Steve Barrett and Scott Forman from WilmerHale advised Carisma on the collaboration agreement, with Brian Johnson, Gary Schall and Victoria Peluso advising on investment and general corporate matters.