Venture report: Nine-digit rounds for Obsidian, Alterome, Diagonal

Three biotechs announced nine-digit megarounds on Wednesday, with Obsidian and Alterome raising crossover rounds and Diagonal launching with a strong balance sheet out of the gate.

Nearly two years after reaching the clinic for the first time, Obsidian Therapeutics Inc. has drawn a $160.5 million series C round, with Wellington Management as the lead investor. The company’s lead program is an autologous, engineered tumor-infiltrating lymphocyte (TIL) therapy that incorporates a membrane-bound IL-15, designed to obviate the need for concomitant IL-2 therapy. It has reached Phase I/II testing to treat solid tumors including melanoma and non-small cell lung cancer...