Clarus spear­heads a big, $150M raise so Galera can flip the PhI­II card on its new drug to treat ra­di­a­tion ef­fects

Any­one look­ing for sol­id ev­i­dence of the kind of im­pact the new, flush fund­ing en­vi­ron­ment — along with a more ac­com­mo­dat­ing FDA — is hav­ing on biotech need look no fur­ther than Galera Ther­a­peu­tics this morn­ing.

Armed with pos­i­tive Phase IIb da­ta for a new can­cer-re­lat­ed ther­a­py, the small, 18-per­son crew at Galera has pieced to­geth­er a whop­ping $150 mil­lion raise; $70 mil­lion in an am­bi­tious Se­ries C with an $80 mil­lion roy­al­ty deal com­ing from one of its biggest back­ers. And CEO Mel Sorensen says that com­bo gives the com­pa­ny all the mon­ey it needs to get through a piv­otal study in the next cou­ple of years that could put them on the thresh­old of a mar­ket­ing de­ci­sion from the FDA.

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