REG - RTW Biotech Opp. - Obsidian Therapeutics reverse merger with Galera

RTW Biotech OpportunitiesAnnouncement

Wed 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260415:nRSO4716Aa&default-theme=true

RNS Number : 4716A  RTW Biotech Opportunities Ltd  15 April 2026

LEI: 549300Q7EXQQH6KF7Z84

15 April 2026

RTW Biotech Opportunities Ltd

Obsidian Therapeutics reverse merger with Galera

·      Reverse merger concurrent with $350 million private placement
financing

·      New company expected to begin trading in Q3 2026

·      As at 31 March 2026, Obsidian represented 0.3% of the Company's
NAV

 

RTW Biotech Opportunities Ltd ("the Company"), the London Stock
Exchange-listed investment company focused on identifying transformative
assets with high growth potential across the life sciences sector, is pleased
to the note the announcement by Galera Therapeutics, Inc. ("Galera" OTC: GRTX)
that it has entered into a definitive merger agreement to combine with private
portfolio company Obsidian Therapeutics, Inc. ("Obsidian"). The transaction is
expected to close in the third quarter of 2026 and the new company will trade
on the Nasdaq under the ticker symbol "OBX".

Obsidian is a clinical-stage biopharmaceutical company harnessing
protein-regulation technology to develop cell therapies for the treatment of
patients with solid tumours. Its lead product candidate, OBX-115, is currently
in a Phase 2 trial for the treatment of advanced melanoma and a Phase 1 trial
for the treatment of non-small cell lung cancer.

 

The merger is an all-stock transaction and occurs concurrently with a $350
million private placement financing, in which the Company is participating. As
at 31 March 2026, Obsidian represented 0.3% of the Company's NAV.

 

Rod Wong, CIO of RTW Investments, said, "We are excited to support Obsidian as
it enters the public markets through a reverse merger with Galera. Obsidian's
cell therapy platform has the potential to meaningfully improve outcomes for
oncology patients with solid tumours, and this transaction provides the
capital and runway to advance OBX-115 through key clinical milestones. A
reverse merger offers an efficient and attractive pathway for private
companies to access the public markets, particularly as the IPO window
continues to gradually reopen this year. Looking ahead, the next few months
represent a significant period for oncology, with ASCO in May serving as a key
inflection point. Several upcoming catalysts have the potential to reshape the
standard of care across pancreatic, bladder and breast cancer."

 

The announcement can be found here
(https://www.businesswire.com/news/home/20260414356791/en/Obsidian-Therapeutics-and-Galera-Therapeutics-Announce-Merger-Agreement-and-%24350-Million-Concurrent-Private-Placement)
.

 

Enquiries:

 RTW Investments, LP - Investment Manager  +44 (0)20 7959 6362

 Oliver Kenyon                             biotechopportunities@rtwfunds.com

 Krisha McCune (Investor Relations)

 Cadarn Capital - PR & IR Partner

 Lucy Clark (PR)                           +44 (0)7984 184 461 / lucy@cadarncapital.com

 David Harris (Distribution)               +44 (0)7368 883 211 / david@cadarncapital.com

 Deutsche Numis - Joint Corporate Broker   +44 (0)20 7260 1000

 Nathan Brown

 Duncan Monteith

 George Shiel

 BofA Securities - Joint Corporate Broker  +44 (0)20 7628 1000

 Edward Peel

 Alex Penney

 Altum (Guernsey) Limited                  +44 (0)1481 703 100

 Joanna Duquemin Nicolle

 Sadie Morrison

 

About RTW Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (LSE: RTW) is an investment fund focused on
identifying transformative assets with high growth potential across the
biopharmaceutical and medical technology sectors. Driven by a long-term
approach to support innovative businesses, RTW Biotech Opportunities Ltd
invests in companies developing next-generation therapies and technologies
that can significantly improve patients' lives. RTW Biotech Opportunities Ltd
is managed by RTW Investments, LP, a leading healthcare-focused
entrepreneurial investment firm with deep scientific expertise and a strong
track record of supporting companies developing life-changing therapies.

Visit the website at www.rtwbio.com
(https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/) for more
information.

 

***********

The information in this announcement may include forward-looking statements,
which are based on the current expectations and projections about future
events, and in certain cases can be identified by the use of terms such as
"may", "will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking
statements, as well as those included in any related materials, are subject to
risks, uncertainties and assumptions about the Company and/or its underlying
investments, including, among other things, the development of the applicable
entity's business, trends in its operating industry, expected use of financing
proceeds and future capital expenditures and acquisitions. In light of these
risks, uncertainties and assumptions, the events in the forward-looking
statements may not occur.

The information contained in this announcement is given at the date of its
publication (unless otherwise marked). No reliance may be placed for any
purpose whatsoever on the information or opinions contained in this
announcement or on its completeness, accuracy or fairness.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUFLFSRSEISLIR



            Copyright 2019 Regulatory News Service, all rights reserved