Galera Therapeutics, Inc., a Malvern, PA-based clinical-stage biotech company developing new treatments for cancer patients, received an additional $5m in funding.
Enso Ventures made the investment, which brought Series B financing total to $42m, joining existing investors New Enterprise Associates, Novartis Venture Fund, Novo Ventures, Correlation Ventures and Galera Angels.
The company intends to use the funds to advance its lead candidate GC4419 in a Phase 2b double-blind, randomized clinical trial that is currently enrolling head and neck cancer patients receiving chemoradiation therapy to prevent against oral mucositis (OM), and support continued development of its pipeline of selective dismutase mimetics to modulate oxygen metabolic pathways.
Led by J. Mel Sorensen, MD, President and CEO, Galera focuses on the development of drugs targeting oxygen metabolic pathways. The company’s lead compounds are selective small molecule dismutase mimetics that closely mimic the activity of the human superoxide dismutase enzymes. While the biology of the superoxide dismutase family suggests a broad range of potential applications, Galera is initially focusing its development on the prevention of radiation-induced toxicity, including mucositis, and the treatment of cancer.
14/10/2015: Galera Therapeutics Completes $37M Series B Financing