Obsidian Therapeutics Announces Merger with Galera Therapeutics and $350M Concurrent Financing to Advance Cell Therapy Pipeline

Obsidian Therapeutics, a Vertex Ventures HC portfolio company, has announced a definitive merger agreement with Galera Therapeutics, Inc., alongside a concurrent $350 million private placement. The transaction marks a major milestone for the company as it advances its engineered cell therapy platform and prepares for its next phase as a publicly traded company.

Following the completion of the merger, the combined company is expected to operate as Obsidian Therapeutics, Inc. and trade on Nasdaq under the ticker OBX. With financing secured, the company will be positioned to advance its pipeline through key clinical milestones into the second half of 2028.

Building the Future of Cell Therapy for Solid Tumours

Obsidian Therapeutics is focused on developing next-generation cell therapies designed to address some of oncology’s toughest challenges. Its proprietary cytoDRIVE™ platform combines precise genetic engineering with tumour-infiltrating lymphocyte (TIL) therapies to enhance the effectiveness, durability, and control of treatment in solid tumours.

The company’s lead candidate, OBX-115, is currently being evaluated in clinical trials for advanced melanoma and non-small cell lung cancer. Designed to improve the patient experience, OBX-115 eliminates the need for a toxic drug typically required with conventional cell therapies and enables outpatient treatment with a gentler preparatory regimen. It can also be manufactured from tumour tissue obtained via a minimally invasive biopsy, avoiding the need for surgery.

OBX-115 has received both Fast Track and Regenerative Medicine Advanced Therapy (RMAT) designations from the FDA. These programmes represent an important step in expanding the potential of cell therapy beyond blood cancers and into more complex solid tumour settings.

Funding to Accelerate Clinical Development

The merger and financing reflect continued investor confidence in differentiated biotech platforms tackling large unmet medical needs. In a market increasingly focused on capital efficiency and clinical progress, access to long-term funding remains a critical advantage.

For Obsidian Therapeutics, this transaction provides the resources to accelerate development, expand operational capabilities, and progress toward potential value-creating milestones in the years ahead.