The venture capital firm Ysios Capital has announced the Nasdaq IPO of Galecto, a biotechnology company focused on the development of therapeutic products for the treatment of different types of fibrosis and cancer. Headquartered in Denmark with a presence in the United States, its most advanced product is aimed at treating idiopathic pulmonary fibrosis, a serious and potentially fatal disease.
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Galecto has debuted on Nasdaq through an initial public offering (IPO) of shares for approximately 85 million dollars at a price of 15 dollars per share. Ysios Capital highlights that the Danish company's Nasdaq listing represents a "new milestone," as it becomes its third portfolio company to do so, after TiGenix and KalaPharmaceuticals, and implies a "significant revaluation" of its investment in Galecto.
Specifically, Ysios Capital co-led a Series C financing round for Galecto of 79 million euros in 2018, through its second fund Ysios BioFund II Innvierte, in addition to continuing to support it by also participating in its 64 million dollar Series D round this September and in its IPO.
Ysios Capital, based in Barcelona and San Sebastián, specializes in investing in life sciences companies that develop therapeutic products. Founded in 2008, it manages almost 350 million euros through three funds.
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