ARTICLE | Financial News
Galecto raises €79M to advance pipeline of galectin inhibitors
November 2, 2018 8:01 PM UTC
Looking to advance several clinical candidates, Galecto Biotech AB (Copenhagen, Denmark) raised €79 million ($91.1 million) on Oct. 26 in a tranched series C round. Galecto CEO Hans Schambye declined to disclose details regarding the round's tranches.
In a couple months, Galecto plans to begin a Phase II/III trial of its lead galectin-3 (LGALS3) inhibitor, TD139, to treat idiopathic pulmonary fibrosis. The round is expected to provide runway through 2021, when the company plans to submit an NDA for TD139...
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