Galecto Inc. has announced the acquisition of Damora Therapeutics in a stock-for-stock transaction, exchanging all of Damora's outstanding equity for a combination of Galecto common stock and newly created Series C convertible preferred stock. Concurrent with the acquisition, Galecto completed a $285 million private placement led by Fairmount and a syndicate of biotechnology investors. The proceeds are expected to advance Damora's pipeline, including proof-of-concept data for DMR-001 and DMR-002 and an IND filing for DMR-003, with a projected cash runway into 2029. The leadership team will include Hans Schambye, Matthew Kronmiller, Lori Firmani, and Garrett Winslow, with new board members from Fairmount joining the existing board. You can access the full presentation through the link below.