Obsidian Therapeutics announced a merger with Galera Therapeutics that includes a $350 million infusion aimed at advancing its tumor-infiltrating lymphocyte (TIL) pipeline. The deal would bring Obsidian onto a public listing while combining financing and development plans behind its approach to compete against established TIL platforms. Both companies position the combined program as an effort to demonstrate differentiated advantages in TIL therapy design and execution, with the funding intended to support clinical development across the expanded pipeline. The transaction highlights how TIL remains a high-capital, execution-sensitive modality, pushing firms to consolidate to secure runway for larger, later-stage trials.