St. Louis-founded startup Galera Therapeutics raises $42 million

Galera Therapeutics, a cancer drug startup has raised $42 million from a group of investors led by San Francisco-based Novo Ventures.

Other investors in the deal include Maryland-based New Enterprise Associates, Boston-based Novartis Venture Fund, San Diego-based Correlation Ventures, the St. Louis Arch Angels and London-based Enso Ventures. Cultivation Capital also participated in the round.

The new money will be used to advance the development of Galera’s pipeline of drug candidates, including advancement of its lead compound into a Phase 2b clinical trial for the prevention of oral mucositis in head and neck cancer patients.

The company was founded in 2009 with $1 million in seed funding from the St. Louis Arch Angels, BioGenerator and Columbia, Mo.-based Analytical Bio-Chemistry Laboratories.

Read more: St. Louis Business Journal

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