Novo Seeds Portfolio Company Galecto Biotech Raises €79 Million in Series C Financing

– Novo Seeds invests €12.5 million becoming largest shareholder
– Galecto Biotech was first inclubated by Novo Seeds and funded through the pre-seed grant programme of the Novo Nordisk Foundation in 2010

Copenhagen, Denmark, 26 October 2018 – Novo Seeds, the early stage investment arm of Novo Holdings, wholly owned by the Novo Nordisk Foundation, today announced that its portfolio company Galecto Biotech AB (Galecto), the leading developer of galectin modulators for the treatment of severe diseases, including fibrosis and cancer, has successfully closed a €79 million series C financing round.

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