Galecto Biotech has raised €79 million ($90 million) to take its treatment for idiopathic pulmonary fibrosis (IPF) into a phase 2/3 trial.
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To danske biotekselskaber får nye mænd til at styre finanserne. Den ene er samtidigt finansdirektør for et tredje dansk selskab med rødder i Novozymes.
Richard Marshall, chief medical officer at Galecto Biotech, talks to Scrip managing editor Joe Shorthouse about how a recent financing will allow the galectin modulator company to quickly push forward its product for idiopathic pulmonary fibrosis. He also discusses the company’s work in the oral and ocular therapeutic areas.
Galecto Biotech AB, the leading developer of galectin modulators for the treatment of severe diseases, including fibrosis and cancer, today announced the successful closing of a €79 million series C financing co-led by Ysios Capital and OrbiMed. New investors Ysios Capital, OrbiMed, HBM Healthcare Investments, OrbiMed Israel, Bristol Myers-Squibb, Maverick Ventures and Seventure Partners joined existing investors Novo Seeds, M Ventures, and Sunstone Capital in the financing round. Concurrent with the financing, Karen Wagner (Ysios Capital), Chau Khuong (OrbiMed), Chandra Leo (HBM) and Erez Chimovits (OrbiMed Israel) were appointed to the Galecto Board of Directors.