A Digital Publication for the Practicing Medical Specialist, Industry Executive & Investor

No Carolina / New York

Obsidian Therapeutics Announces Oversubscribed $160.5 Million Series C Financing to Drive OBX-115 Clinical Development

Obsidian Therapeutics

Obsidian Therapeutics, Inc., a clinical-stage biotechnology company pioneering engineered cell and gene therapies, today announced it has closed a significantly oversubscribed $160.5 million Series C financing with a top-tier syndicate of life science investors led by new investor, Wellington Management.

New Investors

Additional new investors participating in the financing include Foresite Capital, Janus Henderson Investors, Novo Holdings A/S, Paradigm BioCapital, RTW Investments, funds and accounts advised by T. Rowe Price Associates, Inc., 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 participated in the financing.

Proceeds from the financing 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).

Obsidian Therapeutics is focused on enrolling patients and reaching key clinical and regulatory milestones, as well as manufacturing scale-up ahead of pivotal trial readiness.

Appointment of Ray Camahort, Ph.D

The Company also announced the appointment of Ray Camahort, Ph.D., Partner in the Venture Investments group at Novo Holdings US, to its Board of Directors. “Obsidian’s engineered TIL cell therapy is highly differentiated and has the potential to bring transformational efficacy to patients with solid tumors,” said Dr. Camahort. “We look forward to supporting Obsidian’s team on their journey to bring OBX-115 to additional patients.”

Irina Margine, Ph.D., Biotech Sector Lead at Wellington Management.

“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.”

Madan Jagasia, M.D., M.S., Chief Executive Officer of Obsidian

“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.”

About OBX-115

Obsidian’s lead investigational cytoTIL15™ program, OBX-115, is a novel engineered tumor-derived autologous T cell immunotherapy (tumor-infiltrating lymphocyte [TIL] cell therapy) armored with pharmacologically regulatable membrane-bound IL15 (mbIL15). OBX-115 has the potential to become a meaningful therapeutic option for patients with advanced or metastatic melanoma and other solid tumors by leveraging the expected benefits of mbIL15 and Obsidian’s proprietary, differentiated manufacturing process to enhance persistence, antitumor activity, and clinical safety of TIL cell therapy. OBX-115 is being investigated in two ongoing and enrolling clinical trials in advanced or metastatic melanoma and NSCLC (NCT05470283 and NCT06060613).

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

With this new investment partnership, E Tech Group expects to accelerate organic growth and acquisition to become a top system integrator in North America.
The investment will allow ROM InWest to further distribute its fall detection product globally.
Nawal Ouzren, Sensorion’s Chief Executive Officer, said: “We are thrilled to announce another successful capital raise, securing an additional EUR 15 million to accommodate interest expressed by certain existing investors. This builds on the earlier EUR 50 million financing announced in February 2024, adding up to a total of EUR 100 million raised in less than 9 months. With this new financing, we are well-positioned to accelerate our gene therapy programs, including the progression of SENS-501 through its Phase 1/2 clinical study, Audiogene, and the advancement of our second program, GJB2-GT, towards Clinical Trial Applications submission in H1 2025. The capital increase enables the Company to finance its activities until the end of 2025. We remain deeply thankful for the ongoing support of our shareholders and partners as we strive to make a meaningful difference in the lives of those affected by hearing loss disorders.”
Strategic Investor, Osang Healthcare will partner with Kryptos Biotechnologies for the manufacturing and distribution of the product along with financing.
Financing will enable Miach Orthopaedics continued growth of their commercial organization in the U.S., as well as support clinical initiatives like the Bridge Registry to provide important data on real-world patient outcomes.

By using this website you agree to accept Medical Device News Magazine Privacy Policy