Galecto acquires global rights to BRM-1420 dual ENL-YEATS/FLT3 inhibitor for AML

Damora Therapeutics, Inc.

Galecto issued 62,594 common shares and 160.562 Series A convertible preferred shares (convertible into 160,562 common) to Bridge Medicines.
BRM-1420 is a novel dual ENL-YEATS and FLT3 inhibitor targeting multiple genetic subsets of acute myeloid leukemia (AML).
Carl Goldfischer, Galecto's Chairman, also serves as Executive Chairman of Bridge Medicines (related-party transaction).
Pro forma impact: cash reduced by $2.68M; total consideration valued at stock issuance; assumes liabilities.
Stockholder approval required for conversion of preferred shares; Bridge Medicines restricted from selling shares for 12 months.

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