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Business
BMS Takes Option On Galecto
by Lisa M. Jarvis
November 10, 2014
| A version of this story appeared in
Volume 92, Issue 45
Bristol-Myers Squibb has secured an option to acquire Galecto Biotech, a Copenhagen-based firm developing small molecules targeting proteins implicated in fibrosis. Galecto’s lead compound, TD139, an inhaled galectin-3 inhibitor, is in Phase I studies to treat idiopathic pulmonary fibrosis, a chronic lung disease. BMS must exercise its option within 60 days of completion of a Phase Ib study of TD139. Galecto investors could potentially reap up to $444 million.
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