Galera Acquires Nova Pharmaceuticals for Breast Cancer Advances

Galera Therapeutics, Inc. (OTC: GRTX) has announced the completion of its acquisition of Nova Pharmaceuticals, Inc. (“Nova”), a biotechnology company focused on developing a pan-NOS inhibitor for treating resistant breast cancers, including metaplastic breast cancer and refractory subsets of triple-negative breast cancer (TNBC).

Acquisition Highlights

• Funding Support: A syndicate of investors led by Ikarian Capital has invested approximately $3 million in Galera common stock to support this acquisition.
• New Lead Program: Galera will advance an investigator-sponsored Phase 1/2 trial combining the pan-NOS inhibitor with nab-paclitaxel and alpelisib in metaplastic breast cancer.
• Cash Balance and Operations: The company's cash balance is expected to fund operations into 2026, including data readout from its lead program.
• Expanded Trials:
  • A second trial in TNBC is planned in collaboration with the I-SPY 2 consortium.
  • A third trial will focus on Avasopasem, a small molecule dismutase mimetic, for hormone-receptor positive (HR+) advanced breast cancer resistant to conventional therapy, set to begin enrollment in the first half of 2025.

Strategic Focus on Complementary Pathways

Dr. Mel Sorensen, President and CEO of Galera, emphasized the synergy between the acquired and existing programs:
"Dismutase mimetics and NOS inhibitors involve complementary pathways critical to cancer progression, tumor microenvironment dynamics, resistance to chemoradiotherapy, and immuno-oncology. By focusing on the hardest-to-treat subsets of advanced breast cancer, we aim to bring impactful therapies to patients in need."

Nova Pharmaceuticals’ CEO, Par S. Hyare, expressed enthusiasm for the collaboration:
"This agreement combines our technologies to address significant unmet needs in breast cancer. We are optimistic about the responses observed in the ongoing trial at Houston Methodist and look forward to sharing data in the next 9 to 15 months."

Clinical Development Pipeline

• Pan-NOS Inhibitor: Targeting metaplastic and TNBC subsets; a second trial will explore broader TNBC applications.
• Avasopasem: Focused on HR+ advanced breast cancer resistant to standard therapy.
• Ongoing Trial Data: Preliminary results from Houston Methodist investigators have shown promising responses, bolstering confidence in the programs.

Leadership and R&D Efficiency

Galera will retain its name and continue under the leadership of Dr. Sorensen as President and CEO and Joel Sussman as Chief Accounting Officer. The R&D strategy will leverage a consultant team from both companies to maintain a capital-efficient model.

This acquisition positions Galera Therapeutics as a key player in addressing treatment resistance in advanced breast cancers, with a robust clinical pipeline poised to tackle some of the most challenging oncologic indications.