FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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OMB Number: 3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Lopez Fabio 		2. Issuer Name and Ticker or Trading Symbol

SELLAS Life Sciences Group, Inc. [ SLS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

EQUILIBRIA CAPITAL MANAGEMENT LTD., ONE BERMUDIANA ROAD 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/29/2017
(Street)

HAMILTON, D0 HM08
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   12/29/2017     A    149766   A   (1) 149766   I   By limited liability company   (2)
Common Stock   12/29/2017     A    1521863   A   (1) 1521863   I   By Company   (3)
Common Stock   12/29/2017     A    676324   A   (1) 676324   I   By Company   (4)
Common Stock   12/29/2017     A    325799   A   (1) 325799   I   By Company   (5)
Common Stock   12/29/2017     A    58208   A   (1) 58208   I   By Company   (6)
Common Stock   12/29/2017     A    3343   A   (1) 3343   I   By limited liability company   (7)
Common Stock   12/29/2017     A    3343   A   (1) 3343   I   By Individual   (8)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (Right to Buy)     (9) 12/29/2017     A      316163         (10) 12/29/2022   Common Stock   316163   $0.00   316163   I   By Company   (4)

Explanation of Responses:
(1)  Received in exchange for common shares of SELLAS Life Sciences Group, Ltd ("SELLAS") in connection with the merger of SELLAS and a wholly owned indirect subsidiary of the Issuer (then known as Galena Biopharma, Inc.) (the "Merger"). On the effective date of the Merger, each common share of SELLAS was converted into 43.9972 shares of the Issuer's common stock.
(2)  Shares held directly by Equilibria Capital Management Limited ("Equilibria"), a Bermuda limited liability company.
(3)  Shares held directly by EQC Private Markets SAC Fund II Ltd EQC Biotech Sely S Fund ("Sely S"), a Bermuda mutual fund company. Equilibria manages Sely S and may be deemed to beneficially hold shares held by such fund.
(4)  Shares held directly by EQC Private Markets SAC Fund Ltd EQC Biotech Sely I Fund, ("Sely I"), a Bermuda mutual fund company. Equilibria manages Sely I and may be deemed to beneficially hold shares held by such fund.
(5)  Shares held directly by EQC Private Markets SAC Fund Ltd EQC Biotech Sely II Fund, ("Sely II"), a Bermuda mutual fund company. Equilibria manages Sely II and may be deemed to beneficially hold shares held by such fund.
(6)  Shares held directly by EQC Private Markets II SAC Fund Ltd EQC Biotech Sely III Fund ("Sely III"), a Bermuda mutual fund company. Equilibria manages Sely III and may be deemed to beneficially hold shares held by such fund.
(7)  Shares held by Varibobi Financial Holdings Limited, a Cyprus limited liability company ("Varibobi"). Varibobi is an owner of Equilibria and may be deemed to beneficially hold shares beneficially owned by Equilibria. Fabio Lopez is the sole owner of Varibobi and the chief executive officer and a board member of Equilibria and may be deemed to be the indirect beneficial owner of the shares owned by Varibobi and Equilibria. Mr. Lopez disclaims beneficial ownership of securities beneficially owned by Equilibria, except to the extent of any pecuniary interests therein.
(8)  Shares held directly by Daniel Tafur ("Mr. Tafur"). Mr. Tafur is chief investment officer, founder and board member of Equilibria and may be deemed to beneficially own shares beneficially owned by Equilibria. Mr. Tafur disclaims beneficial ownership of securities beneficially owned by Equilibria, except to the extent of any pecuniary interests therein.
(9)  The exercise price per share for the warrant is equal to 105% of the volume weighted average price of the Issuer's common stock for the 30 calendar days following the closing date of the Merger.
(10)  Immediately exercisable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Lopez Fabio
EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08 		X X

EQC Private Markets SAC Fund II Ltd-EQC Biotech Sely S Fund
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
HAMILTON, D0 HM08
X

EQC Private Markets SAC Fund Ltd-EQC Biotech Sely I Fund
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
HAMILTON, D0 HM08
X

EQC Private Markets SAC Fund Ltd-EQC Biotech Sely II Fund`
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X

EQC Private Markets II SAC Fund Ltd-EQC Biotech Sely III Fund
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X

Equilibria Capital Management Ltd
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X

Castilian Ltd.
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X

Varibobi Financial Holdings Ltd
C/O EQUILIABRIA CAPITAL MANAGEMENT LTD.
O'HARA HOUSE, ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X

Tafur Daniel
C/O EQUILIBRIA CAPITAL MANAGEMENT LTD.
ONE BERMUDIANA ROAD
HAMILTON, D0 HM08
X


Signatures
Fabio Lopez, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

EQC Private Markets SAC Fund II Ltd EQC Biotech Sely S Fund, Daniel Tafur, Director, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

EQC Private Markets SAC Fund Ltd EQC Biotech Sely I Fund, Daniel Tafur, Director, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

EQC Private Markets SAC Fund Ltd EQC Biotech Sely II Fund, Daniel Tafur, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

EQC Private Markets II SAC Fund Ltd EQC Biotech Sely III Fund, Daniel Tafur, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

Equilibria Capital Management Limited, Daniel Tafur, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

Castilian, Ltd., Daniel Tafur, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

Varibobi Financial Holdings Ltd., Fabio Lopez, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date

Daniel Tafur, by /s/ Ron A. Metzger, Attorney-in-Fact 12/29/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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