Galecto, whose investors include Novo, Merck Group and Bristol-Myers Squibb, is merging with Celgene-backed PharmAkea, with the joint entity retaining the Galecto name and leadership team.
Galecto Biotech, a Denmark-based cancer and fibrosis treatment developer backed by pharmaceutical firms Bristol Myers-Squibb (BMS), Novo and Merck Group, disclosed on Tuesday that it will merge with US-based peer PharmAkea.
Financial terms of the transaction have not been disclosed. The joint entity will operate under the Galecto name and will be led by the latter’s existing senior management team, including chief executive Hans Schambye.
Galecto will be incorporated in the US, with an office located on the East Coast,…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
