Galecto soars 25% on buying Damora, $285 mn biotech funding round
Galecto shares surged 25% premarket after acquiring Damora Therapeutics and securing $285 million from top biotech investors including Viking Global, RA Capital, and a16z Bio + Health. The deal adds mutant calreticulin, targeting antibody therapies for rare blood cancers, with early human data expected in 2027, expanding Galecto oncology pipeline alongside its AML program.