(RTTNews) - RTW Biotech Opportunities Ltd (RTW.L), on Wednesday, noted that Galera Therapeutics, Inc. (GRTX) has entered into a definitive agreement to merge with private portfolio company Obsidian Therapeutics Inc. in a reverse merger transaction.
The all-stock merger will be conducted alongside a $350 million private placement financing, in which RTW Biotech Opportunities is participating.
The combined company is expected to begin trading on the Nasdaq under the ticker "OBX" in the third quarter of 2026.
Obsidian, a clinical-stage biopharmaceutical company focused on cell therapies for solid tumors, is advancing its lead candidate OBX-115 in Phase 2 trials for advanced melanoma and Phase 1 trials for non-small cell lung cancer.
As of March 31, 2026, Obsidian represented approximately 0.3% of RTW Biotech Opportunities' net asset value.
On Tuesday, RTW Biotech Opportunities closed trading 3.38% higher at $2.1400 on the London Stock Exchange.
On Tuesday, Galera Therapeutics closed trading 88.10% higher at $0.0790 on the OTC.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
