MergerAug 3, 2026, 05:13 PM
Obsidian Therapeutics Completes Merger with Galera; Secures $350M PIPE
AI Summary
Obsidian Therapeutics, Inc. announced the completion of its previously announced merger with Galera Therapeutics, Inc. Concurrently, Obsidian completed an oversubscribed $350 million private placement financing. The combined company will operate as Obsidian Therapeutics, focusing on advancing its engineered TIL cell therapies for solid tumors. The financing is expected to provide a cash runway into the second half of 2028, supporting key clinical milestones for its lead product candidate, OBX-115.
Key Highlights
- Obsidian Therapeutics completed its merger with Galera Therapeutics.
- Secured an oversubscribed $350 million private placement financing.
- Combined company cash, cash equivalents, and investments of approximately $350 million.
- Expected to fund operations into 2H 2028.
- Former Obsidian stockholders own approximately 51.6% of the combined company.
- Investors in the concurrent financing own approximately 47.2% of the combined company.
- Shares to begin trading on Nasdaq under "OBX" on August 4, 2026.
- OBX-115 NSCLC Phase 1 data expected in 1H 2027 and melanoma data by year-end 2027.
Price Impact