Obsidian Therapeutics, a clinical-stage biotechnology company pioneering engineered cell and gene therapies, announced it has closed a significantly oversubscribed $160.5 million Series C financing with a top-tier syndicate of life science investors led by a new investor, Wellington Management. And new investors participating in the funding include Foresite Capital, Janus Henderson Investors, Novo Holdings A/S, Paradigm BioCapital, RTW Investments, funds and accounts advised by T. Rowe Price Associates, and Woodline Partners LP. Existing investors Atlas Venture, Blue Owl Healthcare Opportunities, Bristol Myers Squibb, Deep Track Capital, Logos Capital, RA Capital Management, TCGX, Samsara BioCapital and Surveyor Capital (a Citadel company) also joined the round.
The proceeds from the funding will advance Obsidian’s lead-engineered tumor-infiltrating lymphocyte (TIL) program OBX-115 in its ongoing trials for patients with melanoma and non-small cell lung cancer (NSCLC). And the company is focused on enrolling patients and reaching key clinical and regulatory milestones, and manufacturing scale-up ahead of pivotal trial readiness.
The company also announced it appointed Ray Camahort, Ph.D., Partner in the Venture Investments group at Novo Holdings US, to its Board of Directors.
KEY QUOTES:
“Obsidian’s engineered TIL cell therapy is highly differentiated and has the potential to bring transformational efficacy to patients with solid tumors. We look forward to supporting Obsidian’s team on their journey to bring OBX-115 to additional patients.”
– Dr. Camahort
“Wellington is excited to be supporting Obsidian through its next phase of growth, as the Company continues demonstrating the potential of OBX-115 to address the unmet need of patients with immune checkpoint inhibitor-resistant advanced or metastatic melanoma. The Company has been generating momentum with its novel cytoDRiVE technology and advancing OBX-115 into late-stage clinical trials.”
– Irina Margine, Ph.D., Biotech Sector Lead at Wellington Management
“The strong demand and support from this syndicate of premier investors is a testament to the promise of OBX-115 for patients with treatment-resistant advanced melanoma. This financing provides funding through key clinical readouts in melanoma and is the catalyst to continue expanding OBX-115 into NSCLC, where there is significant potential and high unmet need.”
– Madan Jagasia, M.D., M.S., Chief Executive Officer of Obsidian
