Galecto Completes Strategic Review, Acquires Acute Myeloid Leukemia Preclinical Asset

 

• Galecto will focus on cancer and liver disease, leveraging existing clinical stage asset GB1211
• Bolsters pipeline by obtaining global rights to BRM-1420, a novel dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML)
• BRM-1420 has the potential for enhanced clinical effectiveness compared to FLT3 inhibitors alone and has shown synergistic effects with SOC in preclinical models

“Our strategic review process concluded that our best opportunity for building value and changing the lives for patients with severe diseases was to focus on our existing clinical stage compound GB1211 and increase our chance for success by acquiring complementary assets. The addition of BRM-1420 represents a significant advancement in our mission to develop and deliver breakthrough treatments for oncology and liver conditions,” said Dr. Hans Schambye, CEO of Galecto. “We are particularly optimistic about BRM-1420's potential to address challenging genetic subsets of AML and its observed synergistic effects with standard-of-care therapies and menin inhibitors.”

“AML is the most common acute leukemia in adults, yet despite available treatments, patient prognosis remains poor with significant unmet needs,” said Miles Gerson, Head of Takeda Ventures and Takeda’s Representative to Bridge Medicines.

https://www.globenewswire.com/news-release/2024/10/07/2958933/0/en/Galecto-Completes-Strategic-Review-to-Focus-on-Oncology-and-Liver-Disease-and-Acquires-Acute-Myeloid-Leukemia-Preclinical-Asset-from-Bridge-Medicines.html