Galecto Announces Key Additions to Leadership Team

Core Insights - Galecto, Inc. has appointed Sherwin Sattarzadeh as Chief Operating Officer and Dr. Becker Hewes as Chief Medical Officer, enhancing its leadership team for advancing drug development in hematology/oncology [1][2][3] Leadership Appointments - Sherwin Sattarzadeh brings over 20 years of experience in drug development, previously serving as Chief Business Officer at Blueprint Medicines, with a strong background in hematology/oncology [2][3] - Dr. Becker Hewes has over two decades of experience in drug development, having led significant projects at Blueprint Medicines, including the approval of AYVAKIT for systemic mastocytosis [3] Product Development - DMR-001, a monoclonal antibody targeting mutant calreticulin (mutCALR), is on track for IND submission in mid-2026, with first-in-human dosing expected to occur via subcutaneous administration [1][7] - DMR-001 has shown potent activity in preclinical models for both essential thrombocythemia (ET) and myelofibrosis (MF), indicating its potential as a best-in-class treatment [7] Financial Position - The company has a cash balance that includes $285 million raised in a PIPE transaction in November 2025, providing financial runway into 2029 to support multiple data milestones, including Phase 1 clinical proof-of-concept data for DMR-001 anticipated in 2027 [1] Compensation and Incentives - The company approved significant stock options and restricted stock units for both Sattarzadeh and Hewes as part of their inducement grants, aligning their interests with the company's long-term success [4][5]