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§ Public · Copenhagen, Denmark
Clinical-stage biotechnology company developing small molecule and biologic therapeutics for fibrosis, inflammation, cancer, and blood disorders.
Galecto is a clinical-stage biotechnology company developing small molecule therapeutics and biologics for severe diseases, based in Boston, Massachusetts. Originally focused on targeting galectin-3 and LOXL2 for idiopathic pulmonary fibrosis and cancer, the firm acquired Damora in November 2025 to pivot toward mutant calreticulin-driven blood disorders like essential thrombocythemia and myelofibrosis. This strategic acquisition was accompanied by approximately $285 million in private investment to support its new clinical pipeline. The enterprise subsequently closed a $316 million public offering in February 2026 to fund the clinical advancement of its lead biologic asset, DMR-001. Following these transactions, the organization announced a corporate rebranding to Damora Therapeutics in March 2026, updating its Nasdaq ticker symbol to DMRA. Galecto was originally founded in 2011 by a team of leading fibrosis-focused scientists including Hans Schambye, Tariq Sethi, Ulf Nilsson, and Hakon Leffler.
Galecto has raised $218.0M across 3 funding rounds.
Key people at Galecto.
Galecto has raised $218.0M in total across 3 funding rounds.
Galecto has raised $218.0M in total across 3 funding rounds.
Galecto's investors include Stephan Christgau, Guy Levy, Asymmetry Capital Management, Bristol Myers Squibb, Canica, Cormorant Asset Management, Hans Schambye, Hadean Ventures, HBM Healthcare Investments, Janus Henderson Investors, Maverick Ventures, Novo Holdings.
# Galecto: Correcting the Record
Galecto is not a technology company—it is a clinical-stage biotechnology company focused on developing small molecule therapeutics for cancer and severe liver diseases.[1][2]
Galecto develops small molecule inhibitors targeting galectin proteins and related pathways to treat fibrosis, cancer, and inflammation.[1][3] The company serves patients with severe unmet medical needs, particularly those with idiopathic pulmonary fibrosis (IPF), liver cirrhosis, and acute myeloid leukemia (AML).[1][3] Its core mission is to extend healthy lifespan by providing efficacious, well-tolerated treatments that enable long-term use and improve quality of life.[1]
The company's growth momentum centers on two strategic pillars: its lead asset GB1211, an oral galectin-3 inhibitor showing positive results in non-small cell lung cancer and decompensated cirrhosis studies, and BRM-1420, a dual ENL-YEATS and FLT3 inhibitor acquired in October 2024 for treating multiple genetic subsets of AML.[1][5]
Galecto was founded in 2011 by leading galectin scientists and biotech executives from Sweden, the United Kingdom, and Denmark.[3] The company was built on more than 15 years of accumulated research into galectin biology and the therapeutic potential of galectin modulators.[1][3]
The founding team recognized that galectin-3 and related proteins played central roles in fibrosis and cancer pathways, positioning the company to pioneer a novel class of medicines targeting these mechanisms.[1][3] Hans T. Schambye serves as Co-Founder, President, and CEO since 2020.[2]
Galecto operates within the precision medicine and fibrosis-oncology convergence trend, where companies leverage deep mechanistic understanding of disease biology to develop targeted therapies.[1][3] The timing is favorable: IPF, liver cirrhosis, and AML represent high-unmet-need indications with limited effective treatment options, and the biotech sector increasingly values companies with validated clinical data and clear regulatory pathways.
The company's strategic pivot toward cancer and liver disease—announced following an intensive review process—reflects market realities: these indications offer larger addressable markets and clearer commercialization paths than broader fibrosis programs.[5] By focusing resources on validated assets with positive clinical signals, Galecto positions itself to compete in spaces where galectin modulation offers genuine therapeutic advantages.
Galecto's trajectory depends on advancing GB1211 and BRM-1420 through Phase 2/3 trials and achieving regulatory milestones in oncology and liver disease.[1][5] The company's ability to demonstrate superiority or synergy with standard-of-care treatments will determine its commercial viability. As precision oncology and fibrosis therapeutics mature, companies with validated mechanisms and clinical proof-of-concept—like Galecto—become acquisition targets or standalone successes.
The next 18-24 months will be critical: clinical readouts from ongoing trials, regulatory feedback, and potential partnerships or licensing deals will signal whether Galecto's galectin-focused platform can deliver on its promise to address some of medicine's most intractable diseases.
Galecto has raised $218.0M across 3 funding rounds. Most recently, it raised $64.0M Other Equity in September 2020.
Key people at Galecto.