Stevenage Bioscience Catalyst (SBC), a leading location for development and commercialisation of cutting-edge therapeutics, is pleased to welcome its new occupier Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company committed to the development of novel small molecule therapeutics directed at biological targets which are at the heart of fibrosis, inflammation and cancer.
Galecto was founded in 2011 by leading galectin scientists and biotech executives from Sweden, United Kingdom and Denmark. The company is currently incorporated in the U.S. and headquartered in Copenhagen, Denmark.
To facilitate the international move, SBC has supported Galecto by providing fully fitted out accommodation and access to a range of business support and scientific facilities. This has reduced start-up costs significantly and allowed a smoother and faster transition.
Dr Sally Ann Forsyth, CEO at SBC, said, “We’re so pleased to welcome Galecto to Stevenage Bioscience Catalyst and look forward to supporting its growth in the UK. This inward investment of an important scientific research company adds to not only to the ecosystem at SBC but the UK’s position as an international life science leader”.
Since its opening in 2012, companies based at SBC have together raised over £1.6bn in funding, £700m in 2020 alone, strengthening the cluster’s position as a leader in the commercialisation of advanced therapeutics.