Obsidian Therapeutics, a clinical-stage biotechnology company, has announced the completion of an oversubscribed $160.5 million Series C financing round. New investor Wellington Management led the round.
The company develops engineered cell and gene therapies to address intractable diseases. Its cytoDRiVE platform works to precisely regulate the timing and level of protein function by using FDA-approved small-molecule drugs.
The financing will be used to support the clinical development of Obsidian’s lead program, OBX-115, which is currently being tested in trials for patients with metastatic melanoma and non-small cell lung cancer. The capital will allow Obsidian to enroll more patients, reach key clinical and regulatory milestones and fuel manufacturing scale-up to prepare for pivotal trials.
