New Enterprise Associates has co-led an $11 million first round investment in Galera Therapeutics Inc., a biotech company focused on the development of breakthrough drugs targeting oxygen metabolic pathways in cancer, fibrosis and other human diseases, the company announced.
New Enterprise Associates and Novartis Venture Fund (NVF) co-led the round with Correlation Ventures also investing. Proceeds will be used to expand clinical development of Galera’s small molecule therapeutics.