Galecto Expands Oncology Portfolio with Strategic Acquisition

The latest update is out from Galecto ( (GLTO) ).

Galecto, Inc. successfully acquired global rights to BRM-1420, a promising treatment for acute myeloid leukemia, from Bridge Medicines LLC. The deal was sealed with the issuance of common and preferred shares, alongside assuming certain liabilities. The preferred shares, once approved by shareholders, will convert to common stock, amplifying Galecto’s market presence. This strategic move not only broadens Galecto’s oncology portfolio but also underscores its commitment to addressing critical medical needs, potentially enhancing investor confidence in its growth trajectory.

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