MALVERN, PA — Galera Therapeutics, Inc. (OTC: GRTX) has announced its acquisition of Nova Pharmaceuticals, Inc., a biotechnology company focused on treating resistant forms of breast cancer, including metaplastic and triple-negative breast cancer (TNBC). This move signals a strategic shift for Galera, expanding its focus from toxicity reduction to developing anti-cancer therapies.
Central to this transition is a Phase 1/2 trial of Nova’s Clinical Stage Nitric Oxide Synthase (NOS) inhibitor. This treatment combines standard-of-care therapies nab-paclitaxel and alpelisib to target metaplastic breast cancer, one of the most resistant breast cancer subsets. Additional trials are planned, including one in TNBC in partnership with the I-SPY 2 consortium, and another for hormone-receptor positive (HR+) advanced breast cancer using Galera’s small molecule dismutase mimetic, Avasopasem. The HR+ trial is expected to begin in early 2025.
“Dismutase mimetics and NOS inhibitors involve complementary pathways that play important roles in cancer,” said Dr. Mel Sorensen, President and CEO of Galera Therapeutics. “We are committed to focusing our development on the hardest-to-treat subsets of advanced breast cancer, leveraging strong mechanistic and preclinical rationale established by both companies.”
The acquisition is supported by a $3 million investment led by Ikarian Capital. Galera’s cash position is expected to fund operations through 2026, including data readouts from the lead trial. The company plans to work with academic institutions, the National Cancer Institute (NCI), and its I-SPY 2 network partners to expand datasets efficiently and effectively.
Nova Pharmaceuticals’ CEO, Par S Hyare, expressed optimism about the collaboration. “This agreement allows Galera and our collaborators to advance our product candidates to the next stage of clinical development,” he said. “The data already presented by investigators is promising, and we look forward to the upcoming readouts under Galera’s leadership.”
Galera Therapeutics, Inc. will retain its corporate structure, with Dr. Sorensen continuing as CEO and Joel Sussman as Chief Accounting Officer. A team of consultants from Galera and Nova will oversee research and development efforts aimed at tackling the unmet needs of breast cancer patients.
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