Novo Seeds Portfolio Company Galecto Raises USD 64 Million to Accelerate Development of Clinical Pipeline

Funds will support preparations for potential EU conditional approval of GB0139 in IPF and multiple new Phase 2 clinical trials. Galecto was first incubated by Novo Seeds and funded through the pre-seed grant programme of the Novo Nordisk Foundation. 

Novo Seeds, the early stage investment and company creation team of Novo Holdings, today announced that its portfolio company Galecto Inc. (Galecto), a privately-held biotechnology company focused on the development of novel treatments for fibrosis and cancer, successfully completed a USD 64 million equity financing.

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