India, June 23 -- Carisma Therapeutics, Inc. (CARM), a biopharmaceutical company, on Monday announced an all-stock deal to merge with OrthoCellix, Inc., a subsidiary of Ocugen, Inc. (OCGN), to focus on advancing OrthoCellix's NeoCart technology.
The boards of both companies have unanimously approved the deal, which is expected to be completed in the second half of 2025.
Under the agreement, OrthoCellix will merge into a wholly-owned subsidiary of Carisma and continue as the surviving entity under Carisma.
After the merger closes, Carisma will be renamed OrthoCellix, Inc. and will trade on the Nasdaq Capital Market under the new ticker symbol 'OCLX.'
Once the deal closes and the planned $25 million concurrent financing is completed, Orth...