Obsidian Therapeutics, a Cambridge, MA-based clinical-stage biotechnology company, raised $160.5M in Series C funding.
The round was led by Wellington Management. Additional new investors including Foresite Capital, Janus Henderson Investors, Novo Holdings A/S, Paradigm BioCapital, RTW Investments, Woodline Partners LP, 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 conjunction with the funding, Ray Camahort, Ph.D., Partner at Novo Holdings US, joined Obsidian’s Board of Directors.
The company intends to use the funds for the clinical development of OBX-115 in ongoing trials, including a multicenter trial for patients with metastatic melanoma and non-small cell lung cancer.
Led by CEO Madan Jagasia, Obsidian Therapeutics is a clinical-stage biotechnology company pioneering engineered cell and gene therapies to deliver outcomes for patients with intractable diseases. Its proprietary cytoDRiVE® technology is designed to precisely regulate the timing and level of protein function by using FDA-approved small-molecule drugs.
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.
FinSMEs
03/04/2024