DMR-001, a potentially best-in-class mutant calreticulin ("mutCALR") targeting monoclonal antibody, on track for expected IND submission, or equivalent, in mid-2026 with anticipated first-in-human dosing via subcutaneous administration
Recent addition of deep hematology/oncology drug development experience with the appointment of a Chief Operating Officer and Chief Medical Officer
Pipeline of additional candidates advancing to the clinic, with first IND submission of DMR-002 expected in second half of 2026
Cash balance, following $285M raised in the November PIPE, provides financial runway into 2029 to support multiple data milestones, including Ph1 clinical proof-of-concept data for DMR-001 anticipated in 2027

BOSTON, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO) a biopharmaceutical company focused on developing novel therapeutics to redefine the treatment paradigm for people living with blood cancers, today highlighted its key strategic priorities and anticipated 2026 milestones. In addition, Galecto announced that management will participate in the 15^th Annual LifeSci Partners Corporate Access Event taking place in San Francisco, California, from January 12^th to 14^th, 2026.

"We are thrilled to start this new chapter for Galecto following the successful acquisition of Damora and the addition of exceptional leaders to our team", said Hans Schambye, Ph.D., Chief Executive Officer of Galecto. "These milestones strengthen our position and accelerate our mission to deliver transformative therapies to patients. Looking ahead, 2026 will be a pivotal year as we prepare to submit an IND, or equivalent, for DMR-001 by mid-year and for DMR-002 in the second half of the year. With our expanded capabilities and growing talented team, we are well positioned to advance these programs and create meaningful impact for patients worldwide."

Recent Management Team Expansion

Sherwin Sattarzadeh appointed Chief Operating Officer. Mr. Sattarzadeh brings over 20 years of industry experience across the many facets and stages of drug development and company lifecycle. Most recently, he served as Chief Business Officer at Blueprint Medicines. During his 10 years at Blueprint Medicines, Mr. Sattarzadeh held positions of increasing responsibility including Head of Regulatory Affairs, Chief of Staff, and SVP Strategic Operations. He has an extensive background in hematology/oncology and rare disease drug development, having led and contributed to the global approvals of AYVAKIT^® (avapritinib), GAVRETO^® (pralsetinib), CERDELGA^® (eliglustat) and MOZOBIL^® (plerixafor). Mr. Sattarzadeh received his M.B.A. from Boston University and holds a B.Sc. in Chemistry from the University of British Columbia.
Becker Hewes appointed Chief Medical Officer. Dr. Hewes brings over two decades of experience in drug development in public biotechnology companies. Most recently, he served as Chief Medical Officer at Blueprint Medicines. During his time at Blueprint Medicines, Dr. Hewes led the development of an industry-leading pipeline across mast cell disorders and solid tumors, including the approval of AYVAKIT (avapritinib) for indolent and advanced systemic mastocytosis. Prior to joining Blueprint Medicines, Dr. Hewes had an illustrious career in hematology/oncology drug development, having led clinical development and translational medicine efforts for multiple early-stage oncology programs through clinical proof-of-concept, including KISQALI® (ribociclib), as well as leading registration programs for BOSULIF® (bosutinib), and TORISEL® (temsirolimus). He received his B.Sc. from Vanderbilt University and an M.D. from Georgetown University. He completed his residency at New York Hospital/Cornell Medical Center and his fellowship training in Pediatric Oncology at Emory University.

Anticipated 2026 milestones for Galecto's pipeline

2026 is expected to be a foundational year for Galecto as the company initiates the clinical development of its anti-mutCALR pipeline candidates.

DMR-001 is a potentially best-in-class anti-mutCALR monoclonal antibody demonstrated to have highly potent activity in both Type 1 and Type 2 mutCALR-driven preclinical models, supporting its potential to address the full spectrum of CALR mutations in both essential thrombocythemia ("ET") and myelofibrosis ("MF"). DMR-001 is engineered with validated half-life extension technology to enable infrequent low-volume, subcutaneous dosing to maximize target coverage and patient convenience. An Investigational New Drug application ("IND"), or equivalent, submission for DMR-001, with anticipated first-in-human dosing via subcutaneous administration, is expected to occur in mid-2026, with Phase 1 proof-of-concept data anticipated in 2027.
DMR-002 is an additional anti-mutCALR antibody. An IND, or equivalent, submission for DMR-002 is planned for the second half of 2026.
GB3226 is a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML). An IND submission is planned for the first quarter of 2026.

Strong financial position

The Company anticipates that its cash balance, following $285 million raised in the November PIPE, provides operational runway into 2029.

In addition, management will participate in the 15^th Annual LifeSci Partners Corporate Access Event taking place in San Francisco, California, from January 12^th to 14^th, 2026. Galecto will be hosting 1x1 meetings during the event. Interested investors can request meetings with Galecto by registering here: https://cae.lifescipartners.com/2026.

About Galecto

Galecto, Inc. is a clinical-stage biotechnology company advancing a pipeline of antibody therapeutics to transform treatment of a broad spectrum of hematological cancers. Galecto's pipeline includes a highly differentiated mutant calreticulin (mut-CALR)-driven myeloproliferative neoplasm portfolio targeting essential thrombocythemia and myelofibrosis. Galecto's pipeline also includes GB3226, a first-in-class preclinical dual inhibitor of ENL-YEATS and FLT3 for the treatment of multiple genetic subsets of AML. For regular updates about Galecto, visit www.galecto.com.

Forward-Looking Statements

Certain statements in this press release, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements relating to the Company's expectations, hopes, beliefs, intentions or strategies regarding the future of its assets, pipeline and business including, without limitation, the timing for IND submissions for DMR-001, DMR-002 and GB3226, the expected method of administration for DMR-001, the expected timing for Phase 1 data for DMR-001 and the length of time that the Company believes its existing cash resources will fund its operations. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting the Company will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those uncertainties and factors described under the headings "Risk Factors," "Cautionary Information Regarding Forward-Looking Statements" or "Cautionary Statement Regarding Forward-Looking Statements" in the Company's most recent filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth therein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. The Company does not undertake or accept any duty to make any updates or revisions to any forward-looking statements.

Media Contact:

Lia Dangelico

Deerfield Group

lia.dangelico@deerfieldgroup.com

Investor Contact:

Brian Ritchie

LifeSci Advisors

britchie@lifesciadvisors.com

Galecto Highlights Key Strategic Priorities and Anticipated 2026 Milestones