Galera Therapeutics, Inc., a Malvern, PA-based clinical-stage biotech company developing new treatments for cancer patients, completed a $37m Series B financing.
The round was led by Novo Ventures, with participation from existing investors New Enterprise Associates, Novartis Venture Fund (NVF), Correlation Ventures and Galera Angels. In conjunction with the funding, Dr. Thomas Dyrberg, Managing Partner of Novo Ventures, will join Galera’s Board of Directors.
The company intends to use the funds to advance the development of its selective dismutase mimetics, including progressing lead candidate GC4419 into a Phase 2b double-blind, randomized clinical trial for the prevention of oral mucositis (OM) in head and neck cancer patients receiving chemoradiation therapy.
Led by J. Mel Sorensen, MD, Chief Executive Officer, Galera is a clinical-stage biotechnology company that develops drugs targeting oxygen metabolic pathways, initially focusing on the prevention of radiation-induced toxicity, including mucositis, and the treatment of cancer.