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Carisma Therapeutics and OrthoCellix, a wholly-owned subsidiary of Ocugen, entered into a definitive merger agreement to combine the companies in an all-stock transaction expected to close in 2H25.
The combined company will focus on developing OrthoCellix’s NeoCart technology for the treatment of knee articular cartilage defects, and plans to initiate an FDA-endorsed Phase 3 clinical trial for NeoCart.
OrthoCellix is developing NeoCart as an autologous cartilage implant technology utilizing patient cells to repair articular cartilage defects of the knee. The novel platform merges a fortified 3D scaffold and patented bioprocessing technology to grow chondrocytes—the cells responsible for maintaining cartilage health—to produce adolescent-like cartilage at the time of implant. NeoCart has the potential to accelerate healing and reduce pain by creating a similar, functional joint surface to help patients return to normal activities and prevent complications associated with articular cartilage damage.
Previously, NeoCart received Regenerative Medicine Advanced Therapy designation and concurrence from FDA on a single, confirmatory Phase 3 clinical trial to enable submission of a Biologics License Application. NeoCart was acquired as a part of Ocugen’s reverse merger with the original developer of the therapy, Histogenics, in 2019.
“We believe merging OrthoCellix with Carisma will allow us to create a publicly-traded company focused on the development of NeoCart and provide value for both Ocugen and Carisma stockholders while unlocking true market potential of NeoCart,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-founder of Ocugen. “We believe NeoCart has tremendous potential to deliver a truly transformative approach to cartilage repair, and we’ve established OrthoCellix with dedicated resources to bring this revolutionary technology to the patients who desperately need it.”
“Carisma evaluated a range of strategic alternatives, and we believe this proposed transaction represents an opportunity to deliver significant value to our stockholders,” said Steven Kelly, President and Chief Executive Officer, of Carisma. “OrthoCellix is strongly positioned with its NeoCart platform, a dedication to developing regenerative cell therapies, and a well-credentialed management team to lead the combined company.”
Source: Ocugen
Carisma Therapeutics and OrthoCellix, a wholly-owned subsidiary of Ocugen, entered into a definitive merger agreement to combine the companies in an all-stock transaction expected to close in 2H25.
The combined company will focus on developing OrthoCellix’s NeoCart technology for the treatment of knee articular cartilage defects, and plans to...
Carisma Therapeutics and OrthoCellix, a wholly-owned subsidiary of Ocugen, entered into a definitive merger agreement to combine the companies in an all-stock transaction expected to close in 2H25.
The combined company will focus on developing OrthoCellix’s NeoCart technology for the treatment of knee articular cartilage defects, and plans to initiate an FDA-endorsed Phase 3 clinical trial for NeoCart.
OrthoCellix is developing NeoCart as an autologous cartilage implant technology utilizing patient cells to repair articular cartilage defects of the knee. The novel platform merges a fortified 3D scaffold and patented bioprocessing technology to grow chondrocytes—the cells responsible for maintaining cartilage health—to produce adolescent-like cartilage at the time of implant. NeoCart has the potential to accelerate healing and reduce pain by creating a similar, functional joint surface to help patients return to normal activities and prevent complications associated with articular cartilage damage.
Previously, NeoCart received Regenerative Medicine Advanced Therapy designation and concurrence from FDA on a single, confirmatory Phase 3 clinical trial to enable submission of a Biologics License Application. NeoCart was acquired as a part of Ocugen’s reverse merger with the original developer of the therapy, Histogenics, in 2019.
“We believe merging OrthoCellix with Carisma will allow us to create a publicly-traded company focused on the development of NeoCart and provide value for both Ocugen and Carisma stockholders while unlocking true market potential of NeoCart,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-founder of Ocugen. “We believe NeoCart has tremendous potential to deliver a truly transformative approach to cartilage repair, and we’ve established OrthoCellix with dedicated resources to bring this revolutionary technology to the patients who desperately need it.”
“Carisma evaluated a range of strategic alternatives, and we believe this proposed transaction represents an opportunity to deliver significant value to our stockholders,” said Steven Kelly, President and Chief Executive Officer, of Carisma. “OrthoCellix is strongly positioned with its NeoCart platform, a dedication to developing regenerative cell therapies, and a well-credentialed management team to lead the combined company.”
Source: Ocugen
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
