Merck Group, Bristol Myers-Squibb and Novo-backed cancer drug developer Galecto has filed to go public weeks after it last funding round.
US-based fibrosis and cancer therapy developer Galecto has filed to raise up to $100m initial public offering that would provide exits for pharmaceutical firms Merck Group, Bristol Myers-Squibb (BMS) and Novo.
Galecto is working on small molecule therapeutics for diseases such as cancer and fibrosis, a condition where connective tissue becomes scarred.
The IPO proceeds will fund development of the company’s lead product candidate, GB0139, with some cash going to a phase 3 clinical trial in idiopathic pulmonary fibrosis,…
