Novartis Ventures, the corporate venturing unit of the pharmaceutical company, has reportedly aided US-based cancer treatment company Galera Therapeutics on the way to a $30m round.
The company is looking to hit that target, said chief executive Robert Beardsley, according to the Saint Louis Business Journal on 2 February. The companyis developing enzymes to stop the debilitating effects of radiation in cancer treatment.
Other investors in the company are Saint Louis non-profit funding organisation Biogenerator, as well as angel firms St. Louis Arch Angels, Centennial Angels and US-based scientific company ABC Laboratories, according to Galera’s website.
The company reportedly raised its seed round in 2010, according to Biogenerator’s website.