Galecto, Inc.
19.99%
397,000
1800315
36322Q206
Nov 9, 2025
Nov 17, 2025, 09:45 PM
Reporting Persons (5)
This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.
| Name | Type | % of Class | Aggregate | Sole Voting | Shared Voting |
|---|---|---|---|---|---|
| Fairmount Funds Management LLC | Investment Adviser | 19.99% | 397,000 | 0 | 397,000 |
| Fairmount Healthcare Fund II L.P. | Partnership | 19.99% | 397,000 | 0 | 397,000 |
| Fairmount Healthcare Co-Invest V L.P. | Partnership | 19.99% | 397,000 | 0 | 397,000 |
| Peter Evan Harwin | Individual | 19.99% | 397,000 | 0 | 397,000 |
| Tomas Kiselak | Individual | 19.99% | 397,000 | 0 | 397,000 |
Disclosure Items (7)
Common Stock, par value par value $0.00001 per share
Galecto, Inc.
75 State Street, Boston, MA, 02109
This Schedule 13D is being filed jointly by (1) Fairmount Funds Management LLC, a Delaware limited liability company and Securities and Exchange Commission registered investment adviser under the Investment Advisers Act of 1940 ("Fairmount"); (2) Fairmount Healthcare Fund II L.P., a Delaware limited partnership ("Fund II"); (3) Fairmount Healthcare Co-Invest V L.P., a Delaware limited partnership ("Co-Invest"); (4) Peter Harwin; and (5) Tomas Kiselak (Mr. Harwin and Mr. Kiselak, Fairmount, Fund II and Co-Invest are collectively referred to herein as the "Reporting Persons"). The joint filing agreement of the Reporting Persons is attached as Exhibit 99.1 to this Schedule 13D. Fairmount serves as investment manager for Fund II and Co-Invest and may be deemed a beneficial owner, for purposes of Section 13(d) of the Securities Exchange Act of 1934 (the "Act"), of any securities of the Company held by Fund II and Co-Invest. Fund II and Co-Invest have delegated to Fairmount the sole power to vote and the sole power to dispose of all securities held in Fund II's and Co-Invest's portfolio, including the shares of Common Stock reported herein. Because Fund II and Co-Invest have divested themselves of voting and investment power over the reported securities they hold and may not revoke that delegation on less than 61 days' notice, Fund II and Co-Invest disclaim beneficial ownership of the securities they hold for purposes of Section 13(d) of the Act and therefore disclaim any obligation to report ownership of the reported securities under Section 13(d) of the Act. As managers of Fairmount, Mr. Harwin and Mr. Kiselak may be deemed beneficial owners, for purposes of Section 13(d) of the Act, of any securities of the Company beneficially owned by Fairmount. Fairmount, Mr. Harwin and Mr. Kiselak disclaim beneficial ownership of the securities reported in this Schedule 13D other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing of this Schedule 13D shall not be deemed an admission that any of Fairmount, Mr. Harwin or Mr. Kiselak is the beneficial owner of such securities for any other purpose.
The principal business address of each of the Reporting Persons is 200 Barr Harbor Drive, Suite 400, West Conshohocken, PA 19428.
The principal business of Fairmount is to provide discretionary investment management services to qualified investors through Fund II and Co-Invest, which are each private pooled investment vehicles. The principal occupation of Mr. Harwin and Mr. Kiselak is investment management.
During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect at such laws.
Fairmount is a Delaware limited liability company. Fund II is a Delaware limited partnership. Co-Invest is a Delaware limited partnership. Mr. Harwin is a citizen of the United States of America. Mr. Kiselak is a citizen of Slovakia.
In aggregate, the Reporting Persons have voting and dispositive power over 397,000 shares of Common Stock, which include 397,000 shares of Common Stock issuable upon conversion of 397 shares of Series C Preferred Stock directly held by Fund II and exclude (i) 16,366,000 shares of Common Stock issuable upon conversion of 16,366 shares of Series B Preferred Stock directly held by Fund II, (ii) 6,560,000 shares of Common Stock issuable upon conversion of 6,560 shares of Series C Preferred Stock held directly by Fund II and (iii) 3,478,000 shares of Common Stock issuable upon conversion of 3,478 shares of Series C Preferred Stock directly held by Co-Invest. The conversion of the shares of Series B Preferred Stock and Series C Preferred stock is each subject to a beneficial ownership limitation of 19.99% of the outstanding shares of Common Stock. The securities exclude shares of Common Stock issuable upon conversion of the shares of Series B Preferred Stock and Series C Preferred Stock in excess of such beneficial ownership limitations. At such time as Fairmount and its affiliates beneficially own 9.0% or less of the shares of Common Stock, the beneficial ownership limitations with respect to the Series B Preferred Stock and Series C Preferred Stock will automatically reduce to 9.99%. The aggregate purchase price of the shares of Series B Preferred Stock and Series C Preferred Stock purchased and currently owned by the Reporting Persons is $75,295,301.50. The source of the funding for the purchases of the shares of Series B Preferred Stock and Series C Preferred Stock was the general working capital of the Reporting Persons. The information set forth in Item 4 below is incorporated herein by reference.
The percentages used in this Schedule 13D are calculated based upon 1,327,212 shares of Common Stock outstanding as of November 3, 2025, plus 265,309 shares of Common Stock issued in the Merger.
The Reporting Persons' securities include 397,000 shares of Common Stock issuable upon conversion of 397 shares of Series C Preferred Stock directly held by Fund II and exclude (i) 16,366,000 shares of Common Stock issuable upon conversion of 16,366 shares of Series B Preferred Stock directly held by Fund II, (ii) 6,560,000 shares of Common Stock issuable upon conversion of 6,560 shares of Series C Preferred Stock held directly by Fund II and (iii) 3,478,000 shares of Common Stock issuable upon conversion of 3,478 shares of Series C Preferred Stock directly held by Co-Invest. The conversion of the shares of Series B Preferred Stock and Series C Preferred stock is each subject to a beneficial ownership limitation of 19.99% of the outstanding shares of Common Stock. The securities exclude shares of Common Stock issuable upon conversion of the shares of Series B Preferred Stock and Series C Preferred Stock in excess of such beneficial ownership limitations. At such time as Fairmount and its affiliates beneficially own 9.0% or less of the shares of Common Stock, the beneficial ownership limitations with respect to the Series B Preferred Stock and Series C Preferred Stock will automatically reduce to 9.99%
N/A.
Fairmount is the investment manager or adviser to Fund II and Co-Invest and has voting and dispositive power over the shares of Common Stock held on behalf of Fund II and Co-Invest. Other than the Merger and the Financing discussed above, the Reporting Persons have not had any transactions in the shares of Common Stock.
N/A.
Fairmount is entitled to a fee for managing and advising Fund II based upon a percentage of the net asset value of Fund II, as well as a performance fee if earned, and a performance fee if earned for managing and advising Co-Invest.
Exhibit 99.1 Joint Filing Agreement Exhibit 99.2 Agreement and Plan of Merger, dated November 10, 2025, by and among Galecto, Inc., Daylight Merger Sub I, Inc., Daylight Merger Sub II, LLC and Damora Therapeutics, Inc. (incorporated by reference to Exhibit 2.1 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025). Exhibit 99.3 Certificate of Designation of Series B Non-Voting Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025). Exhibit 99.4 Certificate of Designation of Series C Non-Voting Convertible Preferred Stock (incorporated by reference to Exhibit 3.2 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025). Exhibit 99.5 Form of Lock-Up Agreement (incorporated by reference to Exhibit B of Exhibit 2.1 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025). Exhibit 99.6 Form of Securities Purchase Agreement, dated as of November 10, 2025, by and among Galecto, Inc. and each investor listed on Exhibit A thereto (incorporated by reference to Exhibit 10.1 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025). Exhibit 99.7 Form of Registration Rights Agreement, by and among Galecto, Inc. and certain investors signatory thereto (incorporated by reference to Exhibit 10.2 to Galecto, Inc.'s Current Report on Form 8-K (File No. 001-39655), filed with the SEC on November 10, 2025).