Galera Therapeutics Announces Acquisition of Dismutase Mimetics Portfolio by Toronto-based Biossil for up to $105 Million
“We are very pleased to enter into this agreement, which substantially increases the prospects for bringing avasopasem to patients with cancer,” said Mel Sorensen, M.D., President & CEO of Galera. “Biossil has the expertise and financing capable of advancing avasopasem through the remaining clinical and regulatory hurdles to make it available to patients with cancer. We also believe this transaction serves the best interests of our shareholders, who stand to benefit further should potential regulatory and commercial milestones be achieved. Galera will continue to focus on advancing its pan-NOS inhibitor for patients with advanced breast cancer.”
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