Young entrepreneurs benefit from experienced CEO
The CEO at Galecto Biotech enjoys mentoring young entrepreneurs in Copenhagen Science City. In return he gets unique opportunities to scan the market for talent.
The proximity to potential collaborators and other operators within biotech and innovation means a lot to Galecto Biotech. The company’s CEO Hans Schambye often participates in events and attends presentations. He also acts as a teacher and mentor for young entrepreneurs who might need experienced feedback on the maturation of new ideas, or have questions about IP or fundraising possibilities for their projects.
“I’m able to contribute, and at the same time I have opportunities to spot talent and find potential employees, which is beneficial for the company. It makes a lot of sense to me,” says Hans Schambye.
Galecto Biotech develops treatments for conditions caused by fibrosis, which is scarring of bodily tissue. Fibroblasts, which are the cells responsible, are overactive in some people, compromising the functionality of the diseased organ. Fibrosis is implicated in 40 % of all deaths globally.
“Galecto Biotech is situated in the very heart of Copenhagen Science City. We originally founded the company as a spin-out from Lund University, but soon decided to establish ourselves here instead. Despite attempts to create the right setting in Lund, it doesn’t match what Copenhagen Science City has to offer”
Hans Schambye, CEO, Galecto Biotech
Treatment of lung fibrosis on the way
Lung fibrosis is the first condition for which Galecto Biotech expects to produce a treatment. Patients typically die after 2-5 years of illness, because no effective treatment is yet available.
The active ingredient in the medicinal product is a compound that binds the so-called galectins – from which the company takes its name. By blocking galectins the formation of scar tissue is reduced.
“We continually need new tissue to heal injuries, and preferably this should generate new functional cells, but overactive fibroblasts cause the organ to lose functionality. Our small molecules help to adjust the balance and prevent the fibroblasts from getting too much room to manoeuvre,” explains Hans Schambye.
The treatment of lung fibrosis will be formulated as an inhalation drug. The next product in the pipeline will be for the treatment of eye fibrosis.
About Galecto Biotech
Galecto Biotech AB is a Swedish company founded by leading galectin scientists and biotech executives. The company is based on more than 10 years of research into galectins and galectin modulators.
Read more about Galecto Biotech here.