Galvanize Therapeutics, a commercial-stage medical technology company developing novel pulsed electric field therapies, has announced the successful close of a $100 million Series C financing round. The round was oversubscribed, reflecting strong investor confidence in the company’s vision and progress. Led by Sofinnova Partners, the funding round also included Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors, and Longaeva. Several existing investors also returned to participate, including Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical, and Apple Tree Partners, which initially seeded the company.
The new capital will allow Galvanize to expand its commercial footprint and accelerate clinical development of its two flagship therapies: Aliya PEF for solid tumors and RheOx for chronic bronchitis. Both therapies are built on the company’s proprietary pulsed electric field platform, which represents a new frontier in non-pharmacologic intervention. Unlike traditional treatments that rely on heat, chemicals, or radiation, Galvanize’s technology uses short bursts of highly focused electrical energy to disrupt pathological cellular processes. This approach is designed to alter the course of disease without damaging surrounding healthy tissue, offering a potentially safer and more targeted alternative for patients.
Aliya PEF is being developed for use in oncology, where the need for more precise and less invasive treatment options continues to grow. The therapy is designed to treat solid tumors by delivering controlled electrical pulses that destabilize cancer cells, potentially improving outcomes while minimizing side effects. RheOx, meanwhile, targets chronic bronchitis, a debilitating condition that affects millions and has few effective treatment options. By applying the same principles of pulsed electric fields to the airways, RheOx aims to reduce inflammation and restore healthier lung function.
The Series C financing also coincides with a leadership transition at Galvanize. Doug Godshall, a seasoned executive with a track record of leading successful medtech companies, has been appointed Chairman and CEO. His previous roles include CEO of Shockwave Medical and HeartWare International, both of which achieved significant commercial and clinical milestones under his leadership. Jonathan Waldstreicher, who has played a key role in shaping Galvanize’s strategy, will now serve as President and Chief Strategy Officer, continuing to guide the company’s long-term vision and partnerships.
In addition to the executive appointments, the company’s Board of Directors is gaining new members who bring deep expertise in life sciences investment and company building. Antoine Papiernik of Sofinnova Partners, Zack Scott of Norwest, and David Lewis of Gilmartin Capital have joined the board.
KEY QUOTES:
“I began following Galvanize in 2016 and became actively involved when I joined the board as Chairman in 2021. I have grown increasingly enthusiastic about the company’s prospects over the last year as the team continued advancing our portfolio and commencing our initial commercial efforts. Galvanize’s Aliya and RheOx technologies hold great promise in the fields of solid tumor oncology and chronic bronchitis. There are millions of patients who are underserved by today’s largely pharmaceutical approaches, and I feel fortunate to be able to join the team as we seek to meaningfully improve the outcomes of those who are suffering with these chronic diseases.”
Doug Godshall
“We have closely followed Galvanize for years and are impressed by its technology, strong team, and execution. Partnering again with Doug after our Shockwave success, and working with such a powerful syndicate, was an opportunity we couldn’t refuse. We believe Galvanize’s PEF program could significantly improve treatment and benefit patients with serious unmet needs.”
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners
