Galecto, Inc. has successfully finalized its acquisition of Damora Therapeutics, a company focused on developing treatments for mutant calreticulin (mutCALR)-driven myeloproliferative neoplasms (MPNs). This strategic move is accompanied by the completion of a Series C private placement, generating approximately $284.9 million in funding.
Funding and Future Plans
The combined entity will leverage this funding to maintain operational capabilities through 2029. This financial runway is crucial for advancing Damora’s primary asset, DMR-001, an anti-mutCALR monoclonal antibody.
DMR-001: A Promising Treatment
DMR-001 exhibits approximately tenfold greater potency against Type 2 mutCALR-driven cell proliferation when compared to existing treatments. It is designed for infrequent subcutaneous administration, enhancing convenience for patients.
Key Timelines
- IND submission for DMR-001 expected in mid-2026.
- Phase 1 proof-of-concept data anticipated in 2027.
- IND application for GB3226 targeted for Q1 2026.
About the Companies
Galecto, listed on NASDAQ as GLTO, focuses on innovative treatments for cancer and liver diseases, backed by a diverse portfolio of drug candidates. Damora Therapeutics, founded on research by Paragon Therapeutics, aims to transform care for patients with MPNs.
Significance of the Acquisition
This acquisition marks a pivotal moment for Galecto as it broadens its expertise and product offerings within the blood cancer treatment landscape. The combination of Galecto and Damora creates a specialized portfolio to target unmet medical needs in conditions like Essential Thrombocythemia (ET) and Myelofibrosis (MF). Currently, there are about 42,000 patients in the United States living with mutCALR-driven MPNs.
Further Developments and Goals
As the companies integrate their resources, they expect to accelerate DMR-001’s transition to human trials. Leadership is optimistic about the potential outcomes from this newly combined pipeline, which is anticipated to deliver better treatment options for patients.
This acquisition, along with the substantial investment, positions Galecto to effectively address significant challenges in the treatment of MPNs, aiming to redefine standards of care in the field.
