Galera Therapeutics has announced it has raised $37 million in series B financing.

Galera, headquartered in Malvern, Pa., is a clinical-stage biotechnology company focused on the development of drugs targeting oxygen metabolic pathways.

The financing round was led by Novo Ventures, with participation from existing investors New Enterprise Associates, Novartis Venture Fund , Correlation Ventures and Galera Angels.

Galera indicated the financing proceeds will be used to advance the development of the company’s selective dismutase mimetics. This will include progressing its lead candidate (GC4419) into a phase 2b double-blind, randomized clinical trial for the prevention of oral mucositis in head and neck cancer patients receiving chemoradiation therapy.