SCHEDULE 13D/A 0001645161 XXXXXXXX LIVE 4 Common Stock, par value $0.001 per share 08/19/2025 false 0001485003 14216R101 Carisma Therapeutics Inc.

3675 Market Street Suite 401 Philadelphia PA 19104

HealthCap VII, L.P. 4121 614 3500 Represented by HealthCap Investments SA 23 Avenue Villamont Lausanne V8 CH-1005 Louis E. Rambo (202) 416-6899 Proskauer Rose LLP 1001 Pennsylvania Av, N.W. Ste 600 South Washington DC 20004-2533 0001645161 N HealthCap VII, L.P. b WC N DE 2721923.00 0.00 2721923.00 0.00 2721923.00 N 6.5 PN Y HealthCap VII GP LLC b AF N DE 2721923.00 0.00 2721923.00 0.00 2721923.00 N 6.5 PN Common Stock, par value $0.001 per share Carisma Therapeutics Inc. 3675 Market Street Suite 401 Philadelphia PA 19104 Item 5 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in rows 11 and 13 of the cover pages to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on approximately 41,788,096 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on August 7, 2024. The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D is incorporated by reference. The Reporting Persons have effected the following transactions related to the Common Stock during the past 60 days: Sold 39,100 shares of Common Stock on August 13, 2025 at a price of $0.289 per share; sold 81,003 shares of Common Stock on August 14, 2025 at a price of $0.284 per share; sold 50,402 shares of Common Stock on August 15, 2025 at a price of $0.284 per share; sold 72,617 shares of Common Stock on August 18, 2025 at a price of $0.28 per share; sold 184,500 shares of Common Stock on August 19, 2025 at a price of $0.247 per share; sold 134,000 shares of Common Stock on August 20, 2025 at a price of $0.228 per share; and sold 114,403 shares of Common Stock on August 21, 2025 at a price of $0.228 per share. Except as set forth above, the Reporting Person has not effected any transactions related to the Common Stock during the past 60 days. HealthCap VII, L.P. /s/ Dag Richter 08/21/2025 /s/ Fabrice Bernhard 08/21/2025 HealthCap VII GP LLC /s/ Dag Richter 08/21/2025 /s/ Fabrice Bernhard 08/21/2025