RTW Biotech Opportunities Ltd on Friday said it has backed cell and gene therapy-focused biotech Obsidian Therapeutics Inc.

The investment company, focused on assets in the life sciences sector, said it partook in an Obsidian funding round which raised $160.5 million.

Obsidian, a biotechnology company specialising in cell and gene therapy, will use the proceeds for the development and ongoing trials of OBX-115.

The therapy is a next-generation tumour-infiltrating lymphocyte for patients with metastatic melanoma and non-small cell lung cancer.

RTW shares were down 0.5% to 103.50 pence each in London on Friday afternoon.

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