On April 14, 2026, oncology-focused Obsidian Therapeutics announced a reverse merger with Galera Therapeutics, which was facing liquidation after the FDA rejected one of its drug candidates. This all-stock deal includes a $350 million private placement to fund their combined efforts, particularly in advancing Obsidian’s tumor-infiltrating lymphocyte (TIL) therapies. Obsidian’s lead candidate, OBX-115, is currently in clinical trials for advanced melanoma and non-small cell lung cancer. This merger aims to enhance the therapeutic potential of TILs while providing a path forward for Galera after significant setbacks. The new entity will trade on Nasdaq under the ticker ‘OBX.’
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Link to original article source: https://nationaltoday.com/us/ma/cambridge/news/2026/04/14/cell-therapy-biotech-obsidian-merges-with-galera-to-go-public/
