Demonstrates the impact of BioGenerator’s early stage investment programs to de-risk and build new companies. Highlights BioGenerator’s role as a lead investor in pre-Series A rounds.
Galera was founded by an experienced team of pharmaceutical and biotech veterans to develop selective small molecule mimetics of human superoxide dismutase enzymes. The founders had prior experience managing these compounds, which exhibited safety but not efficacy in clinical trials. BioGenerator believed that a new clinical indication proposed by the Galera team, oral mucositis (OM), represented the most compelling clinical opportunity to leverage the molecular mechanism of Galera’s compounds. OM is a debilitating and common side effect of radiation treatment in head and neck cancer (HNC) patients. Severe OM may result in interruptions in radiation treatment, which can compromise the otherwise good prognosis in many patients. Patients with severe OM may experience significant pain, develop serious infections, and be unable to eat or even drink. No drugs are approved to prevent or treat severe OM in HNC patients.
BioGenerator provided due diligence to other investors and led the Seed financing round providing Galera’s first investment.
Galera closed on $22M in Series A financings, led by Novartis Ventures and NEA, along with Correlation, which enabled completion of preclinical development and Ph 1b/2a clinical trials. It then raised $57M in Series B financings; follow-on investors include Novo, Enso, and Sofinnova Ventures. These financings enabled a strong data package through Ph 2b, preclinical evaluation of other indications, and enhanced IP strategy. Subsequently Galera secured $150M in additional investments to support a pivotal Ph 3 trial, additional clinical studies for other indications, and NDA submission.
In 2019, Galera completed a $60M IPO.