PHILADELPHIA, June 26,
2023 /PRNewswire/ -- Carisma Therapeutics Inc.
(Nasdaq: CARM) ("Carisma" or the "Company"), a clinical-stage
biopharmaceutical company focused on discovering and developing
innovative immunotherapies, today announced that the Company will
join the Russell 2000®,
Russell 3000® and
Russell Microcap® Indexes following the conclusion of
the 2023 Russell indexes annual reconstitution, effective upon the
U.S. markets open today, June 26,
2023.
"We are thrilled to be added to the Russell indexes, which marks another notable
milestone following the successful closing of our merger in March,"
said Steven Kelly, President and
Chief Executive Officer of Carisma. "As we continue to advance our
pipeline of CAR-Macrophage therapies, we anticipate our inclusion
will bring greater market awareness to our CAR-M platform and its
potential to overcome the hurdles of current cell therapy in the
treatment of solid tumors by modulating the tumor microenvironment
through using innate immune system cells. We're also looking
forward to broadening our visibility within the investment
community, which we expect will expand our shareholder base and
help enhance the liquidity in our stock."
The annual Russell indexes
reconstitution captures the 4,000 largest U.S. stocks as of
April 28, ranking them by total
market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains
in place for one year, means automatic inclusion in the large-cap
Russell 1000® Index or
small-cap Russell
2000® Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
Russell indexes are widely used
by investment managers and institutional investors for index funds
and as benchmarks for active investment strategies. Approximately
$12.1 trillion in assets are
benchmarked against Russell's US
indexes. Russell indexes are part
of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the
Russell indexes reconstitution, go
to the "Russell Reconstitution" section on the FTSE Russell
website.
About Carisma
Carisma Therapeutics Inc. is a clinical
stage biopharmaceutical company focused on utilizing our
proprietary macrophage and monocyte cell engineering platform to
develop transformative immunotherapies to treat cancer and other
serious diseases. We have created a comprehensive, differentiated
proprietary cell therapy platform focused on engineered macrophages
and monocytes, cells that play a crucial role in both the innate
and adaptive immune response. The first applications of the
platform, developed in collaboration with the University of Pennsylvania, are autologous chimeric
antigen receptor (CAR)-macrophages for the treatment of solid
tumors. Carisma is headquartered in Philadelphia, PA. For more information, please
visit www.carismatx.com.
About FTSE Russell:
FTSE Russell is a global index
leader that provides innovative benchmarking, analytics and data
solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$20.1 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create ETFs, structured products and index-based
derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Cautionary Note on Forward-Looking
Statements
Statements in this press release about future
expectations, plans and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to Carisma's business,
strategy, future operations and cash runway, Carismas' shareholder
base and the liquidity in Carisma's stock, the advancement of
Carisma's product candidates and product pipeline, and clinical
development of Carisma's product candidates, including expectations
regarding timing of initiation and results of clinical trials,
participation by Carisma in future healthcare industry and investor
conferences and Carisma's expected inclusion in the Russell 2000®, Russell 3000® and Russell
Microcap® Indexes. The words "anticipate," "believe,"
"contemplate," "continue," "could," "estimate," "expect," "goals,"
"intend," "may," "might," "outlook," "plan," "project,"
"potential," "predict," "target," "possible," "will," "would,"
"could," "should," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words.
Any forward-looking statements are based on management's current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those set forth in, or implied by,
such forward-looking statements. For a discussion of these risks
and uncertainties, and other important factors, any of which could
cause Carisma's actual results to differ from those contained in
the forward-looking statements, see the "Risk Factors" set forth in
the Company's Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on May
11, 2023, as well as discussions of potential risks,
uncertainties, and other important factors in Carisma's other
recent filings with the Securities and Exchange Commission. Any
forward-looking statements that are made in this press release
speak as of the date of this press release. Carisma undertakes no
obligation to revise the forward-looking statements or to update
them to reflect events or circumstances occurring after the date of
this press release, whether as a result of new information, future
developments or otherwise, except as required by the federal
securities laws.
Media Contact:
Julia
Stern
(763) 350-5223
jstern@realchemistry.com
Investor Contact:
investors@carismatx.com
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SOURCE Carisma Therapeutics Inc.