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Galera Therapeutics and Obsidian Therapeutics Announce Merger Agreement and $350 Million Concurrent Private Placement
Galera Therapeutics and Obsidian Therapeutics Announce Merger Agreement and $350 Million Concurrent Private Placement.
About this update from Galera Therapeutics, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Galera Therapeutics and Obsidian Therapeutics Announce Merger Agreement and $350 Million Concurrent Private Placement\r\n \r\n \r\n\r\n\r\nGalera Therapeutics and Obsidian Therapeutics Announce Merger Agreement and $350 Million Concurrent Private Placement\r\n\r\n\r\n\r\n\r\n\r\n\r\n Combined company to operate as Obsidian Therapeutics, Inc. and to advance Obsidian’s pipeline of novel engineered TIL cell therapies for the treatment of patients with solid tumors.\r\n Obsidian’s lead product candidate, OBX-115, is a genetically engineered, autologous TIL cell therapy currently in a Phase 2 clinical trial for the treatment of advanced melanoma and a Phase 1 clinical trial for the treatment of non-small cell lung cancer (“NSCLC”).\r\n Concurrent private placement financing of $350 million expected to fund the combined company into the second half of 2028 and provide capital through multiple clinical data milestones expected in 2027, including NSCLC Phase 1 data (expected 1H 2027) and melanoma registration-enabling data (expected year-end 2027).\r\n Galera stockholders will retain a contingent value right for 95% of all future milestones for up to 10 years arising out of its October 2025 Asset Purchase Agreement with Biossil.ai for its dismutase mimetics\r\n CAMBRIDGE, Mass. and MALVERN, Pa., April 14, 2026 (GLOBE NEWSWIRE) -- Galera Therapeutics, Inc. (“Galera”) (OTC: GRTX), a clinical-stage biopharmaceutical company focused on advancing a pan-NOS inhibitor through clinical development for patients with the hardest-to-treat forms of advanced breast cancer, and Obsidian Therapeutics, Inc. (“Obsidian”), a privately-held clinical-stage biopharmaceutical company harnessing novel protein-regulation technology to develop engineered tumor infiltrating lymphocyte, (“TIL”), cell therapies, today announced that they have entered into a definitive merger agreement to combine in an all-stock transaction. The combination will be accomplished by both companies becoming wholly owned subsidiaries of a newly formed company. Upon completion of the transaction, the combined company plans to operate under the name Obsidian Therapeutics, Inc. and will apply to trade on Nasdaq under the ticker symbol “OBX.” In support of the transact...