Galectin Therapeutics Inc.
Sep 12, 2017
PDF
Add to Briefcase

Galectin Therapeutics Receives Notice of Chinese Allowance to Grant a Key Patent for Composition of Matter for GR-MD-02

NORCROSS, Ga., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, today announced that the Company has received a Decision to Grant from the Chinese Patent Office for its patent application for "Composition of Novel Carbohydrate Drug for Treatment of Human Diseases." When issued, the patent will extend composition of matter coverage of the Company's lead compound, GR-MD-02, to China. The patent coverage period extends through 2032. This is one of more than 50 patent applications Galectin Therapeutics, Inc. has pending in 10 foreign countries.

GR-MD-02, a proprietary polysaccharide pharmaceutical preparation that inhibits galectin proteins, is currently in a Phase 2 clinical trial in subjects with NASH with cirrhosis and is in preclinical testing for lung, kidney and cardiovascular fibrosis. GR-MD-02 is also being studied in two clinical trials at Providence Portland Medical Center in advanced melanoma, oral neck and head cancer and selected lung cancer patients in combination with Keytruda® and Yervoy®. Additionally, GR-MD-02 has been studied in two Phase 2 trials with promising results in patients with severe skin diseases, including moderate-to-severe plaque psoriasis and atopic dermatitis.

"The allowance of these key composition of matter claims in China further strengthens the protection of the intellectual property behind our proprietary compound, GR-MD-02.  This is especially important in China, which is a very large potential market for treatment of liver fibrosis. The prevalence of patients with fatty liver disease in China has approximately doubled over the past two decades, with around 15% of the population experiencing NASH1," said Peter G. Traber, M.D., chief executive officer and chief medical officer of Galectin Therapeutics and inventor on the patent.

About Galectin Therapeutics

Galectin Therapeutics is dedicated to developing novel therapies to improve the lives of patients with chronic liver and skin diseases and cancer. Galectin's lead drug (GR-MD-02) is a carbohydrate-based drug that inhibits the galectin-3 protein that is directly involved in multiple inflammatory, fibrotic, and malignant diseases. The lead development program is in non-alcoholic steatohepatitis (NASH) with cirrhosis, the most advanced form of NASH related fibrosis. This is the most common liver disease and one of the largest drug development opportunities available today. Additional development programs are for treatment of severe atopic dermatitis, moderate-to-severe plaque psoriasis, and in combination immunotherapy for advanced melanoma and other malignancies. Galectin seeks to leverage extensive scientific and development expertise as well as established relationships with external sources to achieve cost-effective and efficient development. Additional information is available at www.galectintherapeutics.com.

____________________________
1 J Gastroenterol Hepatol. 2013 Aug;28 Suppl 1:11-7. doi: 10.1111/jgh.12036

Forward Looking Statements

This press release contains 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 management's current expectations and are subject to factors and uncertainties that could cause actual results to differ materially from those described in the statements. These statements include those regarding the hope that Galectin's development program for GR-MD-02 will lead to the first therapy for the treatment of fatty liver disease with cirrhosis and those regarding the hope that our lead compounds will be successful in  the treatment of severe atopic dermatitis, moderate-to-severe plaque psoriasis and in  cancer immunotherapy. Factors that could cause actual performance to differ materially from those discussed in the forward-looking statements include, among others, that Galectin may not be successful in developing effective treatments and/or obtaining the requisite approvals for the use of GR-MD-02 or any of its other drugs in development; the Company's current clinical trial and any future clinical studies may not 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 Galectin's drugs are subject to change at any time based on the changing needs of the Company as determined by management and regulatory agencies; regardless of the results of any of its development programs, Galectin may be unsuccessful in developing partnerships with other companies or raising additional capital that would allow it to further develop and/or fund any studies or trials.  Galectin has incurred operating losses since inception, and its ability to successfully develop and market drugs may be impacted by its ability to manage costs and finance continuing operations. For a discussion of additional factors impacting Galectin's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2016, and subsequent filings with the SEC. You should not place undue reliance on forward-looking statements. Although subsequent events may cause its views to change, management disclaims any obligation to update forward-looking statements.

Galectin Therapeutics and its associated logo is a registered trademark of Galectin Therapeutics Inc.

Contact:

Galectin Therapeutics, Inc.
Jack Callicutt, Chief Financial Officer
678-620-3186
ir@galectintherapeutics.com

Primary Logo

Source: Galectin Therapeutics

News Provided by Acquire Media