TLDR
- Galecto completed its acquisition of Damora Therapeutics on November 10, 2025, gaining access to antibody therapies for mutant calreticulin-driven myeloproliferative neoplasms.
- The company secured $285 million in private investment led by Fairmount, with participation from Viking Global Investors and Wellington Management.
- Damora’s lead drug candidate DMR-001 shows 10-fold greater potency against Type 2 mutant calreticulin-driven cell proliferation in preclinical studies.
- Galecto plans to submit an Investigational New Drug application in mid-2026 with Phase 1 clinical proof-of-concept data expected in 2027.
- The deal provides financial resources extending into 2029 and sent Galecto’s stock price up 360%.
Galecto completed its acquisition of Damora Therapeutics on November 10, 2025. The deal brings a portfolio of antibody therapies targeting mutant calreticulin-driven myeloproliferative neoplasms to Galecto’s pipeline.
The acquisition came with a substantial financial package. Galecto secured approximately $285 million through a private placement that was oversubscribed.
Fairmount led the funding round. Viking Global Investors and Wellington Management participated as major institutional investors.
The stock responded dramatically. Shares jumped 360% following the announcement.
This capital infusion extends Galecto’s financial runway into 2029. The company can now pursue multiple clinical milestones without immediate funding concerns.
Damora specialized in treatments for rare blood cancers. These conditions affect roughly 42,000 patients in the United States.
The Science Behind DMR-001
The lead drug candidate from Damora is DMR-001. This monoclonal antibody targets mutant calreticulin, a protein involved in certain blood cancers.
Preclinical studies showed promising results. DMR-001 demonstrated approximately 10-fold greater potency against Type 2 mutant calreticulin-driven cell proliferation compared to other molecules in clinical development.
Myeloproliferative neoplasms occur when bone marrow produces too many blood cells. The mutant calreticulin-driven subset has been particularly difficult to treat effectively.
Damora represents the sixth company launched from assets developed by Paragon Therapeutics. This organization has a track record of creating biotechnology firms focused on new therapeutic approaches.
Dr. Hans Schambye serves as president and CEO of Galecto. He described the acquisition as a pivotal milestone for the company.
The merger shifts Galecto’s focus toward blood cancers. The portfolio addresses what the company calls unmet needs across the full spectrum of mutant calreticulin-driven conditions.
Clinical Timeline and Development Plans
Galecto plans to submit an Investigational New Drug application in mid-2026. This filing with the FDA is necessary before human testing can begin.
The company will use subcutaneous dosing for first-in-human administration. This method allows patients to receive treatment through injection rather than intravenous infusion.
Phase 1 clinical proof-of-concept data is expected in 2027. This data will provide the first evidence of DMR-001’s safety and effectiveness in human patients.
The company also plans to combine the Damora portfolio with existing programs. GB3226, Galecto’s investigational dual inhibitor, targets multiple genetic subsets of acute myeloid leukemia.
This complementary approach could create opportunities in treating different types of blood cancers. The expanded portfolio gives Galecto multiple pathways to pursue.
The biotech sector has shown increasing interest in targeted therapies. These treatments address specific genetic mutations driving cancer growth.
The deal positions Galecto at the forefront of developing therapies for conditions with limited treatment options. Years of development and clinical testing remain before any therapy could reach patients.
The substantial investment demonstrates serious commitment to addressing rare conditions. The extended financial runway ensures research can proceed without interruption, allowing scientists to gather comprehensive data for each therapeutic candidate through 2027 clinical milestones.
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