Fairmount led a $285m Series C round in Galecto.

Fairmount, a hedge fund established in 2020, led a $285m Series C round in Galecto, a clinical-stage biopharmaceutical company committed to realizing the promise of novel treatments for cancer and liver diseases, with the participation from Viking Global Investors, Venrock Healthcare Capital Partners, Commodore Capital, Janus Henderson Investors, Wellington Management, RA Capital Management, TCGX, Forbion, BB Biotech, Blackstone Multi-Asset Investing, Perceptive Advisors, Vestal Point Capital, Balyasny Asset Management and Andreessen Horowitz. The private placement resulted in gross proceeds to Galecto of approximately $284.9 million and is expected to fund operations into 2029, enabling advancement of Damora’s lead program, DMR-001, through key Phase 1 proof-of-concept data expected in 2027, as well as pipeline programs, DMR-002 and DMR-003, into Phase 1 studies.