Malvern firm raises $15M from Calif. investor
Galera will bring cancer-infection drug to Phase 3
Galera Therapeutics Inc., Malvern, says it has raised $15 million from Sofinnova Ventures, of Menlo Park and San Diego, California, to prepare its drug candidate GC4419 for Phase 3 registration with the Food and Drug Administration.
"The drug is currently in clinical trials for the treatment of severe oral mucositis," an infection affecting head and neck cancer patients under radiation therapy, Galera said in a statement.
Galera had previously raised over $42 million from New Enterprise Associates, Novartis Venture Fund, and other venture and angel investors. Galera's CEO is J. Mel Sorensen, a former GlaxoSmithKline clinical drug development executive.
Sofinnova is "intrigued" with Galera's "scientific approach and thoughtful clinical development," Sofinnova general partner Mike Powell said in a statement. He will join Galera's board, according to Sorensen.