Biotech company Galera Therapeutics has raised $37 million in funding to support the development of a treatment to prevent oral mucositis in head and neck cancer patients receiving chemoradiation therapy.
The Series B financing will be used to develop and test the company's selective dismutase mimetrics, including GC4419, which may help prevent oral mucositis. GC4419 showed promising results in a phase Ib/IIa trial and now will be tested in a phase II double-blind, randomized clinical trial.
"With our Series A funding, Galera was able to demonstrate strong clinical proof-of-concept for our lead product candidate GC4419, validating the use of dismutase mimetics to modulate oxygen metabolic pathways," stated J. Mel Sorensen, MD, CEO of Galera, in a press release. "In addition to advancing the clinical development of GC4419, this new round of financing will enable us to advance our pipeline of dismutase mimetics, including our first oral candidate, into other indications where dysregulated oxygen metabolic pathways drive disease."
