Galecto (GLTO) investor relations material

Deal rationale and strategic fit

• Acquisition expands the pipeline to include anti-mutant calreticulin therapies for myeloproliferative neoplasms and hematological cancers with significant unmet needs.

• Combines complementary strengths: antibody discovery from Paragon and infrastructure for accelerated development, leveraging expertise from both organizations.

• Integration of Damora's portfolio with existing investigational candidates enhances the breadth of hematological cancer treatments.

• Focus shifts toward advancing a differentiated portfolio targeting MPNs, enhancing the company's position in hematological malignancies.

Financial terms and conditions

• Over $285 million raised in an oversubscribed private placement of Series C non-voting convertible preferred stock to fund lead programs beyond key phase one proof of concept data expected in 2027.

• Transaction approved by both companies' boards and Damora's stockholders; not subject to Galecto stockholder approval.

• Post-transaction, total Galecto common stock outstanding will be 61,998,882 shares on an as-converted basis.

Synergies and expected cost savings

• Integration of newly acquired assets with existing programs creates a robust pipeline targeting multiple hematological malignancies.

• Combined company expects financial runway into 2029, supporting multiple clinical milestones.

• Access to Paragon's antibody discovery engine, public capital markets, and strengthened financial position expected to accelerate development.