Galera Therapeutics said today that it landed $15 million for its severe oral mucositis treatment, bringing its Series B financing total to $57 million. Sofinnova Ventures led the round, joining existing investors New Enterprise Associates, Novartis Venture Fund, Novo Ventures, Correlation Ventures, Enso Ventures and Galera Angels.
The Malvern, Penn.-based company said the proceeds will be used to prepare its lead candidate for phase III registration studies. The treatment, GC4419, is in a randomized, placebo-controlled phase IIb clinical trial to study its impact on severe oral mucositis in head and neck cancer patients undergoing chemo-radiation therapy. The funds will also be used to fund the development of its pipeline of selective dismutase mimetics.
Get the full story at our sister site, Drug Delivery Business News.
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