Business Wire·Aug 3, 2026, 9:00 AM ET

Obsidian Therapeutics Completes Closing of Transaction with Galera Therapeutics and Previously Announced Private Placement of $350 Million

OBX

Obsidian Therapeutics completed its merger with Galera Therapeutics, with the combined entity operating under the name Obsidian Therapeutics, Inc.
Shares of the combined company will begin trading on Nasdaq under the ticker symbol "OBX" on August 4, 2026.
Obsidian closed a previously announced oversubscribed private placement financing generating $350 million in gross proceeds from a syndicate of new investors.
The combined company's total cash balance of approximately $350 million is expected to fund operations through the second half of 2028.
Key clinical milestones expected to be funded include Phase 1 data for non-small cell lung cancer (NSCLC) in the first half of 2027 & top-line data from a melanoma registration-enabling trial by year-end 2027.
The combined company will focus on advancing its pipeline of novel engineered tumor-infiltrating lymphocyte (TIL) cell therapies for solid tumors.
Lead product candidate OBX-115 is an engineered TIL therapy armored with pharmacologically regulatable membrane-bound IL15 & has received Fast Track & Regenerative Medicine Advanced Therapy designations from the FDA for unresectable or metastatic melanoma.
Patient enrollment for the registration-enabling cohort of the multicenter study for OBX-115 in immune checkpoint inhibitor-resistant advanced melanoma is scheduled to begin in mid-2026.
Following the transaction, former Obsidian stockholders will own approximately 51.6% of the combined company, concurrent financing investors will own approximately 47.2%, & former Galera stockholders will own approximately 1.2%.
Former Galera stockholders of record as of July 31, 2026, received a non-transferable contingent value right (CVR) representing the right to receive contingent payments upon the occurrence of certain events.