Start-Up Obsidian Gets $49.5m To Determine How And When To Activate CAR-T Cells
Obsidian CEO Michael Gilman described the company's technology – which allows CAR-T cells and other therapies to be activated by available small molecule drugs – as being able to modulate the effective yet toxic therapies by dialing down, turning up or shutting off the treatments as needed.
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Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.
CEO Michael Gilman, who now helms the company full time, said Arrakis will use its Series B venture capital funding to build a pipeline of drug candidates, primarily in cancer, with the goal of taking its first medicines into the clinic in the next two to three years.
New strategies to overcome safety, solid tumor and other challenges associated with CAR-T therapies – and some early clinical data for patients treated with Poseida's, Celyad's and Autolus' novel products – were featured at the American Association for Cancer Research (AACR) meeting.