Total amount raised
$325 Millions
Latest funding date
04/01/2024
Location
Obsidian Therapeutics has successfully raised $160.5 million over multiple funding rounds, with the latest being a Series C round. The company is pioneering next-generation cell and gene therapies, leveraging its proprietary cytoDRiVE® platform to engineer precision medicines.
Keep reading to explore the intricacies of Obsidian Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Obsidian Therapeutics?
Obsidian Therapeutics, founded in 2015, is a biotechnology company based in Cambridge, Massachusetts. The company was established by Michael Gilman, Steve Shamah, and Tariq Kassum.
Specializing in cell and gene therapies, Obsidian Therapeutics employs between 101 and 250 people. Their proprietary cytoDRiVE® platform and OBX-115 therapy are at the forefront of their innovative medical solutions.
How Much Funding Has Obsidian Therapeutics Raised?
- Series A
- Amount Raised: $49.5M
- Date: December 2017
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and advance their proprietary cytoDRiVE® platform.
- Series B
- Amount Raised: $115M
- Date: September 2021
- Lead Investors: The Column Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance their engineered TIL therapy, cytoTIL15, into clinical trials for solid tumors.
- Series C
- Amount Raised: $160.5M
- Date: April 2024
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure financing for its innovative cell therapy.
Total Amount Raised: $325M. Current Valuation: Not publicly disclosed.
Key Investors
- Wellington Management
- Details: Wellington Management is a private, independent investment management company. It manages over $1 trillion in client assets.
- Investment Focus Areas: Healthcare, technology, financial services.
- Notable Investments: Moderna, Airbnb, Alibaba.
- The Column Group
- Details: The Column Group is a venture capital firm focused on investing in early-stage biotechnology companies. It has a strong track record of supporting innovative biotech startups.
- Investment Focus Areas: Biotechnology, life sciences, pharmaceuticals.
- Notable Investments: NGM Biopharmaceuticals, Gritstone Oncology, ORIC Pharmaceuticals.
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital investment arm of Alphabet Inc. It provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Uber, Slack, Nest.
- Atlas Ventures
- Details: Atlas Ventures is a leading early-stage venture capital firm that invests in life sciences and technology companies. It has a strong focus on innovation and entrepreneurship.
- Investment Focus Areas: Biotechnology, healthcare, technology.
- Notable Investments: Alnylam Pharmaceuticals, Blueprint Medicines, Intellia Therapeutics.
- Bristol Myers Squibb
- Details: Bristol Myers Squibb is a global biopharmaceutical company. It focuses on discovering, developing, and delivering innovative medicines for patients with serious diseases.
- Investment Focus Areas: Oncology, immunology, cardiovascular diseases.
- Notable Investments: Celgene, Juno Therapeutics, MyoKardia.
What's Next for Obsidian Therapeutics?
Obsidian Therapeutics is poised to make significant strides in the field of precision oncology. With the advancement of their cytoTIL15 therapy into clinical trials for solid tumors, starting with metastatic melanoma, the company is set to address a critical need in cancer treatment. The potential to expand this therapy to other solid tumors further amplifies the opportunity for growth.
Future fundraising efforts are likely as Obsidian continues to develop its therapies and build out commercial manufacturing capabilities. The successful Series B round, which raised $115 million, indicates strong investor confidence and sets the stage for additional financial backing. However, the company will need to navigate regulatory hurdles and ensure the efficacy and safety of their treatments in clinical trials.
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