From the ESA’s Hubble page:
Astronomers have studied galactic evolution for decades, gradually improving our knowledge of how galaxies have changed over cosmic history. The NASA/ESA Hubble Space Telescope has played a big part in this, allowing astronomers to see further into the distance, and hence further back in time, than any telescope before it – capturing light that has taken billions of years to reach us.
Looking further into the very distant past to observe younger and younger galaxies is very valuable, but it is not without its problems for astronomers. All newly-born galaxies lie very far away from us and appear very small and faint in the images. On the contrary, all the galaxies near to us appear to be old ones.
DDO 68, captured here by the NASA/ESA Hubble Space Telescope, was one of the best candidates so far discovered for a newly-formed galaxy in our cosmic neighbourhood. The galaxy lies around 39 million light-years away from us; although this distance may seem huge, it is in fact roughly 50 times closer than the usual distances to such galaxies, which are on the order of several billions of light years.
Read the rest at ESA’s Hubble page.
A side note: I thought this dwarf galaxy was actually two galaxies in the process of merging, apparently not?