Galecto Biotech secured €79 million in Series C financing to advance clinical trials of its inhaled drug TD139 for idiopathic pulmonary fibrosis, alongside its oral and ocular pipeline candidates.

Information on the Target

Galecto Biotech AB is a leading biopharmaceutical company based in Copenhagen, Denmark, specializing in the development of galectin modulators aimed at treating severe diseases such as fibrosis and cancer. The company's flagship drug, TD139, is a potent and selective inhibitor of galectin-3, designed for inhalation to directly target fibrotic tissues in the lungs while minimizing systemic exposure. Galecto's mission is to create innovative therapeutic options to combat diseases linked to galectin-3, particularly idiopathic pulmonary fibrosis (IPF), which is characterized by a progressive loss of lung function.

Recently, Galecto announced the successful closing of a €79 million Series C financing round that will expedite the advancement of TD139 into Phase 2/3 clinical trials. This financing also allows for further development of other pipeline candidates targeting oral and ocular applications of galectin-3 inhibition, potentially expanding the company's therapeutic reach across multiple organ systems.

Industry Overview in Denmark

Denmark has established itself as a prominent hub for life sciences and biopharmaceutical research, demonstrating a commitment to innovation in healthcare. The Danish pharmaceutical industry benefits from a robust support framework that