Galecto Biotech Raises €79 Million in Series C Financing Co-Led by Ysios Capital and OrbiMed to Advance Galectin Inhibitor to Late-Stage Clinical Development

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.

Galecto Biotech Strengthens Executive Team with Appointment of Richard Marshall as Chief Medical Officer

Galecto Biotech AB, the leading developer of galectin modulators for the treatment of severe diseases, including fibrosis and cancer, today announced the appointment of Richard Marshall, MD, PhD, as Chief Medical Officer

Galecto Biotech’s Lead Molecule TD139 is Safe, Well Tolerated, with Direct Target Engagement and Biomarker Effects in a Clinical Phase Ib/IIa trial in IPF Patients

Today, Galecto Biotech AB can announce the successful completion of its phase Ib/IIa clinical trial of inhaled TD139. The new drug demonstrates ground-breaking results for patients suffering from Idiopathic Pulmonary Fibrosis (IPF), a chronic and severe disease characterized by a progressive decline in lung function.

FDA approves an IND from Galecto Biotech for TD139 treatment of IPF patients. – Phase Ib/IIa Trial to Start in the UK

Galecto Biotech AB today announced that the U.S. Food and Drug Administration (FDA) has approved an Investigational New Drug (IND) application for the company’s galectin-3 inhibitor, TD139, for the treatment of patients with idiopathic pulmonary fibrosis (IPF). Simultaneously, the company announced that a phase Ib/IIa trial in IPF patients is due to start shortly in several centers in the United Kingdom (UK).

Bristol-Myers Squibb Signs Exclusive Option Agreement to Acquire Galecto Biotech AB and its Novel Galectin-3 inhibitor in Development for Idiopathic Pulmonary Fibrosis

Bristol-Myers Squibb Company(NYSE: BMY) and Galecto Biotech AB today announced that the companies, together with the Galecto shareholders, have entered into an agreement that provides Bristol-Myers Squibb the exclusive option to acquire Galecto Biotech AB and gain worldwide rights to its lead asset TD139, a novel inhaled inhibitor of galectin-3 in Phase 1 development for the treatment of idiopathic pulmonary fibrosis (IPF) and other pulmonary fibrotic condition.

Galecto Biotech Initiates Clinical Phase I/IIa trial in IPF

Galecto Biotech AB today announced that dosing in a phase I/IIa trial of TD139 has been initiated. The first in man study, which includes both healthy volunteers and patients with idiopathic pulmonary fibrosis (IPF), is aimed at characterizing the safety, tolerability and efficacy of TD139. TD139 is an inhaled inhibitor of galectin-3, a protein known to play a central role in fibrosis in several organs, including the lung.

40 million SEK for Galectin-3 Research to the Founders of Galecto Biotech

The Founders of Galecto Biotech are part of a research team awarded SEK 40 million from the Wallenberg Foundation