05:25 AM EDT, 06/28/2024 (MT Newswires) -- Carisma Therapeutics ( CARM ) said late Thursday that it nominated an in vivo CAR-M targeting Glypican-3 as the first development candidate under its collaboration with Moderna ( MRNA ) .

Shares of Carisma surged more than 43% in premarket activity on Friday. Moderna ( MRNA ) was up less than 1%.

The company said the development candidate is designed to treat solid tumors, including hepatocellular carcinoma.

The nomination triggered a $2 million milestone payment to Carisma.

The company said pre-clinical data demonstrated that the development candidate successfully created CAR-M directly in vivo, redirecting endogenous myeloid cells to attack cancer cells.

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