Viking Global Investors participated in a $285 million PIPE transaction to support Galecto Inc.'s acquisition of Damora Therapeutics, focusing on advancing innovative therapies for MPNs.

Target Company Information

Damora Therapeutics Inc. is a privately held biotechnology firm that is dedicated to developing innovative antibody therapeutics. The company is primarily focused on transforming the treatment landscape for patients suffering from mutant calreticulin-driven Myeloproliferative Neoplasms (MPNs), which includes conditions such as Essential Thrombocythemia (ET) and Myelofibrosis (MF). Damora’s approach revolves around a new generation of disease-modifying biologics aimed at providing more effective management options for these challenging blood disorders.

Galecto Inc., a clinical-stage biopharmaceutical company, has entered into an agreement to acquire Damora Therapeutics. The acquisition is part of Galecto's strategy to enhance its pipeline dedicated to novel treatments for various cancers and liver diseases, positioning itself as a significant player in the biopharmaceutical sector.

Industry Overview in the Biopharmaceutical Sector

The biopharmaceutical industry has witnessed profound growth in recent years, characterized by an increased focus on targeted therapies and precision medicine. In the United States, advancements in genomics and biotechnology have paved th