Galera adds $15m for Series B

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.

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