Galvanize Therapeutics, Inc., a medical technology company specializing in pulsed electric field (PEF) treatments for cancer and chronic lung disease, recently completed an oversubscribed $100 million Series C funding round. The round was led by Sofinnova Partners, a leading European life sciences venture capital firm, and included strong participation from top international investors such as Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors, and Longaeva. Existing investors like Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical, and founding investor Apple Tree Partners also took part in the funding.
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The capital raised will support Galvanize’s efforts to expand its commercial footprint and advance clinical and development programs for its Aliya® PEF technology targeting solid tumors and RheOx therapy for chronic bronchitis. The company plans to continue refining its PEF platform, which delivers non-thermal, short electrical pulses designed to disrupt abnormal cellular activity without using pharmaceuticals. This innovative approach aims to alter the course of diseases for patients suffering from serious conditions.
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Doug Godshall, formerly CEO of Shockwave Medical and HeartWare International, has been appointed Chairman and CEO of Galvanize Therapeutics. Jonathan Waldstreicher has taken on the role of President and Chief Strategy Officer. Mr. Godshall has been closely involved with the company since 2016 and became active Chairman in 2021. He expressed excitement about Galvanize’s progress and early commercial activities, emphasizing the potential of the Aliya and RheOx technologies to offer new treatment options for millions of patients currently underserved by traditional drug therapies. He is committed to helping the company achieve better outcomes for patients with chronic diseases.
Alongside the funding, Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, Zack Scott, M.D., General Partner at Norwest Venture Partners, and David Lewis, Managing Partner at Gilmartin Capital, joined Galvanize’s Board of Directors.
Mr. Papiernik shared that Sofinnova has long followed Galvanize and praised the company’s strong technology, leadership, and ability to execute on its vision. He expressed enthusiasm for collaborating again with Doug Godshall following their prior success with Shockwave Medical. He believes that Galvanize’s PEF platform has the potential to greatly enhance patient care and address critical unmet medical needs.
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