What Galmed Pharmaceuticals does

Galmed Pharmaceuticals is an Israeli clinical-stage biopharmaceutical company founded in 2000 by Tuvia Gilat and Allen Baharaff, listed on NASDAQ under the ticker GLMD, and focused on developing therapies for metabolic, inflammatory, and gastrointestinal diseases. Its lead asset is Aramchol, an oral small-molecule inhibitor of stearoyl-CoA desaturase 1 (SCD1), which is being evaluated in the ARMOR Phase 3 study for NASH/MASH and is being reformulated as a meglumine salt to reduce COGS by approximately 50% and improve manufacturing yield. The company is also developing new formulations, including an LNP cardiac-targeted version and an oral-disintegrating-film brain-penetrating version, expanding into cardiac fibrosis, Parkinson's disease, ulcerative colitis, and GI oncology, and has filed a patent covering co-administration of Aramchol with resmetirom (Madrigal's Rezdiffra).

In June 2026, Galmed diversified beyond pure pharma by acquiring Colospan and its CG-100 intraluminal colorectal anastomosis device for approximately $4.5 million; CG-100 carries FDA Breakthrough Device Designation, has CE marking, and is being commercially launched in the DACH region (Germany, Austria, Switzerland), giving Galmed its first revenue-generating product. The company partners with Barcode Nanotech for AI-enabled nanoparticle engineering and with Tissue Dynamics for cardiac organoid testing with embedded metabolic sensors, and has adopted a digital-asset treasury strategy to manage its approximately $19.2M cash position as of Q3 2025. With 11-50 employees, a market capitalization of roughly $3-4M, and ongoing reliance on equity-line and ATM issuance (~$9.3M raised in 2025), Galmed remains thinly capitalized relative to its expanded pipeline and is reliant on continued equity issuance, strategic transactions, or non-dilutive capital to fund ARMOR and the device launch.

Name

Galmed Pharmaceuticals

Legal name

Galmed Research & Development Ltd.

Website

https://galmedpharma.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Clinical-stage Biopharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Gastroenterology Specialty Pharmaceuticals (HLAIACAE)

akta.pro secondary industry

Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)

Keywords

• Clinical-stage biopharmaceutical
• NASH/MASH therapeutics
• SCD1 inhibitor development
• Fibrosis drug pipeline
• Intr luminal bypass device

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Aramchol (NASH/MASH): Pre-commercial clinical-stage drug. Aramchol Meglumine is in Phase 3 (ARMOR study) for NASH and fibrosis. Potential future revenue from pharmaceutical product sales upon regulatory approval.
2. CG-100 Intraluminal Bypass Device: Commercial-stage medical device acquired via Colospan acquisition. CE marked in EU and approved in Israel. FDA Breakthrough Device Designation with active U.S. pivotal IDE trial. European commercial launch planned for H2 2026 in Germany, Austria, Switzerland ($6M investment).
3. Digital Asset Strategy: In August 2025, Galmed adopted a digital asset management strategy including potential allocation of up to 50% of its ~$10M cash reserves to digital assets, with a Crypto Committee and Tectona Ltd. advisory engagement.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Galmed Pharmaceuticals is a clinical-stage biopharmaceutical company that develops Aramchol, a first-in-class Stearoyl-CoA desaturase 1 (SCD1) inhibitor, in multiple formulations (Meglumine, ODF, LNP cardiac-targeted) for fibrotic and metabolic diseases including NASH/MASH, liver fibrosis, Parkinson's disease, cardiac fibrosis, and GI oncology. The company also markets the CG-100 intraluminal bypass device for colorectal surgery acquired through the acquisition of Colspa Ltd., and develops the MyBiotics microbiome-based therapeutic program.

Product overview

Galmed Pharmaceuticals is a clinical-stage biopharmaceutical company developing Aramchol, a first-in-class SCD1 inhibitor, across multiple formulations and indications. The core product Aramchol Meglumine targets NASH and fibrosis in Phase 3, while additional formulations include Aramchol ODF for Parkinson's disease and LNP cardiac-targeted formulation for cardiac fibrosis. The Amilo-5MER peptide targets ulcerative colitis, and the MyBiotics program addresses gut microbiome in NASH. Through the Colospan acquisition, Galmed added the CG-100 intraluminal bypass device to its gastrointestinal medtech portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Aramchol Meglumine Oral small-molecule SCD1 inhibitor reformulated as a meglumine salt being developed for the treatment of NASH/MASH with liver fibrosis. It targets the underlying metabolic and fibrotic mechanisms of non-alcoholic steatohepatitis and is intended for adult patients with F2-F3 fibrosis.
• Aramchol ODF (Oral Dissolving Film) Oral dissolving film formulation of Aramchol that dissolves in the mouth without water, offering improved patient convenience and compliance. Designed as a differentiated formulation for regional licensing and commercialization in Asian markets.
• Aramchol LNP Cardiac-Targeted Lipid nanoparticle formulation of Aramchol engineered for cardiac-targeted delivery, intended to treat cardiac fibrosis by delivering the SCD1 inhibitor directly to cardiac tissue. Designed for patients with heart failure and cardiac fibrotic conditions.
• Amilo-5MER Peptide therapeutic candidate developed for fibrosis and oncology indications. Represents a distinct chemical entity outside the Aramchol franchise, expanding the company's pipeline into peptide-based therapeutics.
• CG-100 Intraluminal Bypass Device Commercial-stage single-use intraluminal bypass device used during colorectal surgery to protect the anastomosis site by diverting fecal content, reducing the risk of post-surgical complications including anastomotic leak. Sold to hospitals and surgical centers and used intraoperatively by colorectal surgeons.
• MyBiotics Microbiome Program Bacterial-derived microbiome therapeutic program developed using MyBiotics Pharma technology, intended for gut microbiome-related indications including GI oncology and other conditions where the gut microbiome plays a therapeutic role.

Quantifiable outcome

• 5-fold greater bioavailability with Aramchol Meglumine 400mg once daily vs. Aramchol free acid 300mg twice daily
• +5 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Colospan Ltd.coreStrategic or Co-development Partner · 9 June 2026Galmed acquired Colospan in a $4.5 million deal ($2.5M cash + $2.0M in Galmed ordinary shares) with earnout capped at $2.0M from Q3 2027. Restructured terms increased cash payment by $800,000 to reduce dilution. Colospan becomes a wholly owned subsidiary as Galmed's GI-focused medtech platform. CG-100 holds CE marking in EU and Israeli approval, with FDA Breakthrough Device Designation.
• Tissue DynamicscoreStrategic or Co-development Partner · 6 May 2026Collaboration to develop a human chronic cardiac fibrosis platform using vascularized, sensor-embedded cardiac organoids to advance Aramchol-based therapeutics. Combines Tissue Dynamics' high-throughput organoid technology with embedded metabolic sensors and AI analysis with Galmed's SCD1 biology expertise. Preclinical results showed 4-fold reduction in fibrotic burden.
• Tel Aviv University (Ramot)coreStrategic or Co-development Partner · 14 April 2026Research collaboration agreement with Ramot at Tel Aviv University to evaluate brain-penetrating SCD1 inhibitor Aramchol as targeted therapy for metastatic brain cancers. Combines TAU's genomic expertise (Ben-David Lab) and 3D preclinical modeling capabilities (Satchi-Fainaro Lab) to validate Aramchol's efficacy in p53-deficient brain metastases.
• Barcode NanotechcoreTechnology or Integration · 9 April 2026Co-development partnership for lipid nanoparticle (LNP) brain-penetrating formulation of Aramchol using Barcode Nanotech's AI-based nanoparticle screening platform. Also co-developed LNP cardiac-targeted formulation and ODF formulation for improved delivery across multiple therapeutic applications.
• Virginia Commonwealth University (VCU) - Massey Comprehensive Cancer CentercoreStrategic or Co-development Partner · 26 November 2025Joint research collaboration with VCU evaluating Aramchol's effects on gastrointestinal cancer drug resistance. Positive top-line results announced from studies showing Aramchol's effect on overcoming drug resistance in GI cancers. Also supports Phase 1b clinical trials planned for early 2026 for metastatic colorectal cancer, hepatocellular carcinoma, and cholangiocarcinoma patients.
• Tectona Ltd.minorOthers · 28 August 2025Advisory services engagement for digital asset management strategy. Galmed adopted a digital asset management strategy including potential allocation of up to 50% of ~$10M cash reserves to digital assets, with a Crypto Committee established and Tectona engaged for advisory services.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Madrigal Pharmaceuticals: Lead FDA-approved MASH player with Rezdiffra (resmetirom). Galmed's own combination patent links Aramchol directly to Rezdiffra, making Madrigal the most directly comparable peer and the de facto standard-of-care benchmark for the ARMOR readout.
• Akero Therapeutics: Clinical-stage NASH/MASH company developing efruxifermin (FGF21 analog), with pivotal-stage data competing for the same advanced-fibrosis MASH opportunity that ARMOR targets.
• 89bio: Pegozafermin (FGF21 analog) developer focused on MASH with advanced fibrosis; directly comparable late-stage clinical-stage peer competing for the same patient population and prescriber demand.
• Inventiva Pharma: Lanifibranor (pan-PPAR agonist) developer in NASH/MASH Phase 3; European clinical-stage peer with similar regulatory pathway, indication, and market to Galmed's ARMOR program.
• Viking Therapeutics: Clinical-stage metabolic-disease company with programs in NASH (VK2809) and obesity/CV; comparable because it pursues both liver and broader cardiometabolic indications, mirroring Galmed's NASH + cardiac fibrosis strategy.
• Terns Pharmaceuticals: Clinical-stage developer of THR-β agonists (e.g., TERN-501) for MASH, positioning as another resmetirom-follower — directly comparable small-cap NASH competitor for capital and partnership attention.

Broad incumbents

• Boehringer Ingelheim: Large incumbent with a dedicated NASH/MASH and cardiometabolic pipeline (survodutumab and others in partnership with Zealand Pharma). Broad incumbent across the same liver/cardiac indications Galmed targets.
• Eli Lilly: Diversified large-cap pharma with established metabolic (Mounjaro/Zepbound) and active NASH/cardiometabolic programs; sets the broader competitive backdrop against which Galmed's SCD1 platform must differentiate.
• Gilead Sciences: Owns legacy liver-franchise assets (Hepsera, Viread, Sovaldi) and has publicly pursued NASH candidates. Board member Carol Brosgart led clinical development of Viread and Hepsera at Gilead, illustrating the direct relevance of its hepatic franchise as a comparable.

Emerging players

• Enyo Pharma: Private clinical-stage hepatology company advancing FXR agonists (vonafexor) in NASH and chronic HBV; smaller, emerging player addressing the same disease biology and patient population as Galmed's ARMOR program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/galmedpharma
• Facebookfacebook.com/822556341133446
• LinkedInlinkedin.com/company/galmed-medical-research

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors2 records

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M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Galmed Pharmaceuticals