Galec­to lays off 70% of staff, con­sid­ers strate­gic al­ter­na­tives af­ter IPF tri­al fail

Boston-based Galec­to is lay­ing off 70% of its em­ploy­ees and ex­plor­ing a range of strate­gic al­ter­na­tives a lit­tle over a month af­ter it had to axe its lead can­di­date in lung dis­ease fol­low­ing a failed tri­al.

Galec­to hint­ed at the po­ten­tial for changes in mid-Au­gust when it an­nounced the mid-stage flop, adding that it was  “eval­u­at­ing re­source al­lo­ca­tion” to ex­tend its cash run­way in 2025. Galec­to said Tues­day that it will lay off around 29 peo­ple and will seek a merg­er, ac­qui­si­tion or di­vesti­ture.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.