NORCROSS, Ga., Sept. 24, 2014 (GLOBE NEWSWIRE) -- Galectin Therapeutics Inc.(Nasdaq:GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced the election of Gilbert S. Omenn, M.D., Ph.D., to its Board of Directors, effective immediately. Dr. Omenn, a leading cancer researcher, is a professor of internal medicine, human genetics and public health, and director of the Center for Computational Medicine and Bioinformatics at the University of Michigan in Ann Arbor, Mich.
According to James Czirr, Executive Chairman of Galectin Therapeutics, "Gaining a new board member with Dr. Omenn's Board of Director experience at Amgen between the time Amgen was an early stage company in 1987 and 2014, when it is clearly one of the great biotech success stories of all time, should prove extremely beneficial as we pursue the Galectin Therapeutics' goal of becoming another great biotech success story."
"We are extremely pleased to have Dr. Omenn join Galectin Therapeutics' Board of Directors," said Dr. Peter G. Traber, President, Chief Executive Officer, and Chief Medical Officer of Galectin Therapeutics Inc. "As a renowned cancer researcher, Dr. Omenn has extraordinary experience in translational science. He will bring an invaluable wealth of knowledge for the Company as we advance our proprietary galectin-inhibiting compounds."
Dr. Omenn served on the board of directors of Amgen Inc. for 27 years and of Rohm & Haas Company for 22 years. He currently serves on the boards of Esperion Therapeutics Inc., Etubics Corp. and Oncofusion Therapeutics Inc. He leads major research programs in proteomics and integrative biomedical informatics in his current position at the University of Michigan. Dr. Omenn served as executive vice president for medical affairs and as chief executive officer of the University of Michigan Health System from 1997 to 2002. Prior to this, he was the dean of the School of Public Health and Community Medicine and professor of medicine at the University of Washington. He is the author of 548 research papers and scientific reviews and author/editor of 18 books. Dr. Omenn received his B.A. summa cum laude from Princeton University, M.D. magna cum laude from Harvard Medical School, and Ph.D. in genetics from the University of Washington.
"Non-viral fibrotic disease of the liver, and of other organs, represents one of the major unmet needs for therapeutics. Galectin Therapeutics has developed a very promising carbohydrate-based strategy focused on galectin biology. Successful treatment of fibrosis will prevent grievous and costly complications, like cirrhosis and liver cancers," said Dr. Omenn.
In addition to his role on the Board of Directors, Dr. Omenn will continue to serve on Galectin Therapeutics'Scientific Advisory Board.
About Galectin Therapeutics
Galectin Therapeutics (Nasdaq:GALT) is developing promising carbohydrate-based therapies for the treatment of fibrotic liver disease and cancer based on the Company's unique understanding of galectin proteins, key mediators of biologic function. We are leveraging extensive scientific and development expertise as well as established relationships with external sources to achieve cost effective and efficient development. We are pursuing a clear development pathway to clinical enhancement and commercialization for our lead compounds in liver fibrosis and cancer. Additional information is available at
www.galectintherapeutics.com.
Forward-Looking Statements
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as "may," "estimate," "could," "expect" and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. These statements include those regarding potential therapeutic benefits of our drugs, and expectations regarding the company's drug development program. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others, our current drug development efforts may not lead to positive outcomes or regulatory approval. We may
experience delays in our trials, which could include enrollment delays. Future phases or future clinical studies may not begin or produce positive results in a timely fashion, if at all, and could prove time consuming and costly. Plans regarding development, approval and marketing of any of our drugs are subject to change at any time based on the changing needs of our company as determined by management and regulatory agencies. We may be unsuccessful in developing partnerships with other companies or obtaining capital that would allow us to further develop and/or fund any studies or trials. We are currently the subject of litigation, which may impact our human and capital resources. To date, we have incurred operating losses since our inception, and our future success may be impacted by our ability to manage costs and finance our continuing operations. For a discussion of additional
factors impacting our business, see our Annual Report on Form 10-K for the year ended December 31, 2013, and our subsequent filings with the SEC. You should not place undue reliance on forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.
CONTACT: Galectin Therapeutics Inc.Peter G. Traber, MD, 678-620-3186
President, CEO, & CMO
ir@galectintherapeutics.com
Source:
Galectin Therapeutics, Inc.
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