Galecto Inc. is a clinical-stage biotechnology company focused on developing treatments for fibrosis and cancer. The company was founded in 2011 and is headquartered in Boston, Massachusetts. The company's lead candidate, GB0139, is a first-in-class inhaled inhibitor of galectin-3, a protein implicated in the development and progression of fibrosis. The company also has a pipeline of other galectin-3 inhibitors and galectin modulators in preclinical and clinical development.
Galecto went public on the NASDAQ stock exchange in January 2021 through a merger with a special purpose acquisition company (SPAC) called PharmAkea. The merger was completed through a reverse merger in which Galecto became a wholly-owned subsidiary of PharmAkea, which then changed its name to Galecto, Inc. and began trading under the symbol "GLTO" on the NASDAQ.
The company's pipeline of galectin-3 inhibitors and modulators is focused on treating fibrosis in multiple organs, including the lungs, liver, and kidneys. In addition to GB0139, the company is developing GB1211, a systemic galectin-3 inhibitor in clinical development for the treatment of idiopathic pulmonary fibrosis (IPF) and other fibrotic diseases. The company is also developing a pipeline of galectin-9 modulators for the treatment of cancer and other diseases.
Galecto has a number of strategic collaborations with pharmaceutical companies, including Merck and Bristol-Myers Squibb. In January 2021, the company announced a collaboration with PharmAkea to develop a second-generation inhaled galectin-3 inhibitor for the treatment of pulmonary fibrosis. The collaboration includes a $2.5 million investment by PharmAkea in Galecto.
The company has a strong management team with experience in drug development, clinical operations, and finance. The CEO and co-founder, Dr. Hans Schambye, has over 25 years of experience in biotech and pharma and has previously founded and led several successful biotech companies. The CFO, Jonathan Freve, has over 20 years of experience in finance and has held leadership positions at several biotech companies.