Total amount raised
$325 Million
Latest funding date
04/01/2024
Location
Obsidian Therapeutics has successfully raised funding over three rounds, with the latest being a Series C round led by Wellington Management. The company is backed by a total of 29 investors, including Logos Capital and Surveyor Capital.
Keep reading to explore the intricacies of Obsidian Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Obsidian Therapeutics?
Obsidian Therapeutics, based in Cambridge, Massachusetts, is a pioneering biotechnology company focused on developing next-generation cell and gene therapies. The company operates within the biotechnology, health care, and pharmaceutical industries.
Founded to extend adoptive immunotherapy, Obsidian Therapeutics employs between 101-250 people. The company leverages its proprietary cytoDRiVE® platform to create precision medicines, aiming to revolutionize therapeutic approaches for patients in need.
How Much Funding Has Obsidian Therapeutics Raised?
- Series A
- Amount Raised: USD 49,500,000
- Date: December 2017
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development of their cytoDRiVE® platform and early-stage research.
- Series B
- Amount Raised: USD 115,000,000
- 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 and build out commercial manufacturing capabilities.
- Series C
- Amount Raised: USD 160,500,000
- Date: April 2024
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize their next-generation cell and gene therapies.
Obsidian Therapeutics has raised a total of USD 325,000,000. The current valuation is not publicly disclosed.
Key Investors
- Wellington Management
- Details: Wellington Management is a global investment management firm that serves as a lead investor in Obsidian Therapeutics' Series C funding round.
- Investment Focus Areas: Biotechnology, healthcare, pharmaceuticals
- Notable Investments: Not publicly disclosed
- The Column Group Crossover Fund (TCGX)
- Details: The Column Group Crossover Fund (TCGX) led the Series B financing round for Obsidian Therapeutics. They are known for their focus on biotechnology and life sciences.
- Investment Focus Areas: Biotechnology, life sciences
- Notable Investments: Not publicly disclosed
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. They were the lead investors in Obsidian Therapeutics' Series A funding round.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: Uber, Slack, Flatiron Health
- Logos Capital
- Details: Logos Capital is an investment firm that focuses on public and private healthcare companies. They are one of the major investors in Obsidian Therapeutics.
- Investment Focus Areas: Healthcare, biotechnology, pharmaceuticals
- Notable Investments: Not publicly disclosed
- Surveyor Capital
- Details: Surveyor Capital is part of Citadel and focuses on fundamental equity investments. They are a new investor in Obsidian Therapeutics' Series B funding round.
- Investment Focus Areas: Healthcare, technology, diversified sectors
- Notable Investments: Not publicly disclosed
What's Next for Obsidian Therapeutics?
Obsidian Therapeutics stands at the cusp of significant opportunities with its engineered TIL therapy, cytoTIL15, poised to enter clinical trials for solid tumors. The potential to expand cytoTIL15's application beyond metastatic melanoma could revolutionize treatment options in precision oncology. This growth is bolstered by the $115 million raised in their Series B round, underscoring strong financial backing.
Future fundraising appears promising as the company advances its clinical and commercial plans. However, challenges such as regulatory hurdles and clinical trial risks remain. Navigating these obstacles will be crucial for Obsidian Therapeutics to maintain its trajectory in the competitive biotech landscape.
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