Press Release
Galectin Therapeutics Expands European Patent Coverage
NEWTON, Mass., Jun 14, 2011 (BUSINESS WIRE) -- Galectin TherapeuticsInc. (OTC: PRWP) today announced that the European Patent Office has granted the Company a new patent, No. 02731178.6, "Co-administration of a Polysaccharide with a Chemotherapy for the Treatment of Cancer". The patent protects, among other things, methods for reducing the toxicity of chemotherapies in which a polysaccharide, such as the Company's GM-CT-01 (DAVANAT®), is co-administered with a chemotherapeutic agent to reduce toxicity of the chemotherapy. This application is the seventh patent in Galectin Therapeutics growing patent portfolio that covers its core Galectin-targeting compounds and further reinforces the proprietary nature of its compounds.
"We continue to strengthen our intellectual property portfolio beyond the U.S. We expect similar success with additional patent applications pending internationally," said Peter G. Traber, M.D., and Chief Executive Officer, Galectin Therapeutics. "The new patent covers the administration of a therapeutic agent to cancer patients to enhance efficacy while substantially reducing toxicity and the well-known, undesirable side effects suffered by most chemotherapy patients. The patent also allows claims for the composition of matter for GM-CT-01 itself.
"Our technology improves the efficacy and safety profile of chemotherapy by targeting galectins, which are proteins involved in the progression of cancer and fibrosis. Based on data in our own studies as well as third party studies at major international laboratories, we are confident that our galectin-targeting compounds will soon play a major role in advancing the treatment of cancer and liver fibrosis," said Anatole Klyosov, Ph.D., D.Sc., Chief Scientist, Galectin Therapeutics.
About GM-CT-01
GM-CT-01 is a polysaccharide polymer that targets galectin proteins that are over expressed by cancer cells and interferes with their activity. Peer-reviewed studies have demonstrated that galectins affect cell development and play important roles in cancer, including tumor cell survival, invasion, metastasis, and angiogenesis and give the tumor the ability to evade the immune system. To date, GM-CT-01 has been administered to approximately 100 cancer patients. Data from a Phase II trial for end-stage colorectal cancer patients showed that GM-CT-01 in combination with 5-FU extended median survival by 46% compared with the best standard of care as determined by the patients' physicians. Clinical trial results also showed that patients experienced fewer serious adverse side effects of the chemotherapy.
Galectin Therapeutics Portfolio Overview
Galectin Therapeutics is focusing its galectin inhibitor development efforts in two key disease areas: fibrosis and cancer.
- Liver Fibrosis: The Company is developing galectin inhibitors to treat liver fibrosis and the later stage of cirrhosis. Galectin Therapeutics' candidates have demonstrated the ability to arrest and reverse liver fibrosis in pre-clinical studies.
- 60,000 deaths from cirrhosis occurred last year in the United States of which only 8,000 of the approximately 450,000 U. S. cirrhosis patients received life saving liver transplants. Liver fibrosis is a disease with no current treatment options except liver transplantation.
Galectin Therapeutics' efforts in cancer encompass two distinct programs, cancer immunotherapy and chemotherapy.
- Cancer Immunotherapy: Recent experiments by The Ludwig Institute of Cancer Research in Brussels, Belgium indicated that GM-CT-01 reactivates T-cell-dependent tumor cell killing that had been turned off by galectins secreted by cancer cells. The Ludwig Institute is planning a Phase 1/2 trial of GM-CT-01 for patients with advanced metastatic melanoma. Patients will receive a tumor-specific peptide vaccination combined with multiple systemic and intra-tumor doses of GM-CT-01 following the second month and subsequent month's vaccine administration.
- Cancer Chemotherapy: The Company is currently awaiting review of its application for marketing approval in Colombia for the use of GM-CT-01 (formerly known as DAVANAT®) in combination with 5-FU for metastatic colorectal cancer. GM-CT-01 will be commercialized by Galectin Therapeutics' partner in Colombia, ProCaps, pending regulatory approval in Colombia.
About Galectin Therapeutics
Galectin Therapeutics (OTC: PRWP) is developing promising carbohydrate-based therapies for 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. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others: incurrence of operating losses since our inception, uncertainty as to adequate financing of our operations, extensive and costly regulatory oversight that could restrict or prevent product commercialization, inability to achieve commercial product acceptance, inability to protect our intellectual property, dependence on strategic partnerships, product competition, and others stated in risk factors contained in our SEC filings. We cannot assure that we have identified all risks or that others may emerge which we do not anticipate. 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.
SOURCE: Galectin Therapeutics Inc.
Galectin Therapeutics Inc.
Anthony D. Squeglia, 617-559-0033
Chief Financial Officer