Ocugen Inc. has announced a definitive merger agreement with Carisma Therapeutics Inc. to create a new company focused on regenerative cell therapies for orthopedic diseases. The proposed reverse merger involves OrthoCellix, a wholly-owned subsidiary of Ocugen, and aims to form a Nasdaq-listed, late clinical-stage regenerative cell therapy company centered on orthopedic diseases. The combined company will prioritize the development of OrthoCellix's NeoCart® technology, an autologous cartilage implant designed to repair knee articular cartilage defects. Plans are underway to initiate a Phase 3 clinical trial for NeoCart®, endorsed by the U.S. Food and Drug Administration (FDA).
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