Date: 2012-01-02
Type of information: Fundraising
Company: Galecto Biotech (Sweden)
Investors: Merck Serono Ventures (Switzerland) - Novo A/S (Denmark) - Forskarpatent (Sweden)
Amount:
Funding type: seed financing
Planned used:
Others: Galecto Biotech is a new company founded by a group of international top-level scientists and biotech executives. The company will be focused on developing novel drugs for the treatment of fibrosis, inflammation and other serious human diseases. It will develop modulators of galectins, initially focusing on novel galectin-3 inhibitors, which have demonstrated the potential to treat a range of debilitating diseases.Galecto Biotech’s founding team includes Professors Hakon Leffler, Ulf Nilsson and Tariq Sethi and Dr. Hans Schambye. Professor Leffler (Lund University) was one of the first scientists to discover this important class of proteins. Professor Nilsson ( Lund University) is a world authority in carbohydrate chemistry and is leading the identification of potent galectin modulators. Professor Sethi (King’s College, London) is an expert in fibrosis and pulmonology, and has helped characterize galectins’ role in liver, kidney and lung diseases. Dr. Hans Schambye, a seasoned biotech entrepreneur with extensive experience in drug discovery and development, was appointed CEO of Galecto Biotech AB.
Therapeutic area: Inflammatory diseases
