# Galecto

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/galecto

- Industry: Pharmaceuticals
- Headquarters: Copenhagen, Denmark
- Website: www.galecto.com
- Total disclosed funding: $164M
- Latest round: Series D (Sep 25, 2020)
- Investors on record: 21

## About

Galecto, Inc. is a biopharmaceutical company focused on developing innovative small molecules for severe diseases, including various cancers and liver conditions, with an emphasis on galectin modulation.Galecto, Inc. operates in the biopharmaceutical sector, developing therapies targeting severe diseases. The company was founded in 2011 in Copenhagen, Denmark. Tariq Sethi is the founder of the company. Galecto has raised a total of USD 85.00 mn through 9 deals, with its most recent funding being an IPO on October 28, 2020, where it raised USD 85.00 mn by selling 5.67 million shares at USD 15 per share on the Nasdaq.Galecto, Inc. primarily develops innovative small molecules aimed at treating severe diseases, particularly focusing on galectin modulators that target critical disease pathways. Their product line includes galectin-3 inhibitors and ENL-YEATS / FLT3 inhibitors, which provide therapeutic options for patients with acute myeloid leukemia (AML) and severe liver diseases like hepatocellular carcinoma (HCC). The recent expansion of their oncology pipeline includes the acquisition of BRM-1420, a dual inhibitor aimed at specific genetic subsets of AML, with a client base primarily in North America and Europe.Galecto, Inc. generates revenue through strategic partnerships and collaborations for the development and commercialization of its therapeutic candidates. The company engages in B2B agreements, focusing on joint development efforts or licensing agreements with pharmaceutical companies and research institutions. The revenue model involves structured payments tied to clinical milestones, along with potential royalties upon successful product commercialization. While specific pricing for flagship products like BRM-1420 is not disclosed, the approach is performance-based to enhance market accessibility.Galecto, Inc. plans to utilize the USD 85.00 mn raised in its recent IPO to prepare for potential EU conditional approval of its lead product, GB0139, for idiopathic pulmonary fibrosis (IPF) and to initiate multiple new Phase 2 clinical trials. The company aims to expand its market presence in Europe and North America, targeting further development of its pipeline by 2023.

## Funding rounds

- Series D, Sep 25, 2020, $64M — OrbiMed Advisors, HBM Partners, Seventure Partners, Novo Holdings, Ysios Capital Partners, Bristol-Myers Squibb Company, Maverick Capital, Asymmetry Capital Management, Cormorant Asset Management, Hadean Ventures, Sphera Funds Management, Canica, Janus Henderson Investors, Soleus Capital, Sunstone Life Science Ventures, Eir Ventures
- Series C, Jan 28, 2020, $4.2M — HBM Partners
- Series C, Oct 26, 2018, $90M — OrbiMed Advisors, HBM Partners, Seventure Partners, Heartcore Capital, Ysios Capital Partners, Bristol-Myers Squibb Company, Novo Holdings, M Ventures, Sunstone Life Science Ventures
- Series B, Oct 30, 2013, $6.1M — SEED Capital, Bay City Capital, Heartcore Capital, Novo Holdings, M Ventures
- Seed, Jan 2, 2012 — M Ventures, Novo Holdings, Forskarpatent

## Investors

- M Ventures (https://capitalatlas.ai/funds/m-ventures) — Seed, Series B, Series C
- Novo Holdings — Seed, Series B, Series C, Series D
- Forskarpatent — Seed
- SEED Capital (https://capitalatlas.ai/funds/seed-capital) — Series B
- Bay City Capital (https://capitalatlas.ai/funds/bay-city-capital) — Series B
- Heartcore Capital (https://capitalatlas.ai/funds/heartcore-capital) — Series B, Series C
- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series C, Series D
- HBM Partners (https://capitalatlas.ai/funds/hbm-partners) — Series C, Series D
- Seventure Partners (https://capitalatlas.ai/funds/seventure-partners) — Series C, Series D
- Ysios Capital Partners (https://capitalatlas.ai/funds/ysios-capital-partners) — Series C, Series D
- Bristol-Myers Squibb Company — Series C, Series D
- Sunstone Life Science Ventures (https://capitalatlas.ai/funds/sunstone-life-science-ventures) — Series C, Series D
- Maverick Capital (https://capitalatlas.ai/funds/maverick-capital) — Series D
- Asymmetry Capital Management — Series D
- Cormorant Asset Management (https://capitalatlas.ai/funds/cormorant-asset-management) — Series D
- Hadean Ventures (https://capitalatlas.ai/funds/hadean-ventures) — Series D
- Sphera Funds Management — Series D
- Canica — Series D
- Janus Henderson Investors — Series D
- Soleus Capital (https://capitalatlas.ai/funds/soleus-capital) — Series D
- Eir Ventures (https://capitalatlas.ai/funds/eir-ventures) — Series D