NORCROSS, Ga.--(BUSINESS WIRE)--
Galectin Therapeutics, Inc. (NASDAQ: GALT), the leading developer
of therapeutics that target galectin proteins to treat fibrosis and
cancer, today announced that the Company has received a Notice of
Allowance from the Australian Government Patent Office for its patent
application for "Composition of Novel Carbohydrate Drug for Treatment of
Human Diseases." When issued, the patent will extend coverage of the
Company's lead compound, GR-MD-02, to Australia to treat patients at
risk of non-alcoholic steatohepatitis (NASH), fibrosis, inflammatory and
autoimmune disorders in which galectins are at least in part involved.
The patent will not expire until 2032.
GR-MD-02, a proprietary polysaccharide pharmaceutical preparation that
inhibits galectin proteins, is currently in two Phase 2 clinical trials
in subjects with NASH with cirrhosis and NASH with advanced fibrosis, as
well as 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 patients in
combination with Keytruda® and Yervoy®, as well as in a Phase 2a trial
in patients with moderate-to-severe plaque psoriasis.
"The allowance of these claims in Australia further strengthens the
protection of the intellectual property behind our proprietary compound,
GR-MD-02," said Peter G. Traber, M.D., chief executive officer and chief
medical officer of Galectin Therapeutics and inventor on the patent.
"This is but one of more than 50 patent applications we have pending in
10 foreign countries, which, in addition to Australia, include Brazil,
Canada, China, Europe, Israel, Japan, Korea, Mexico and South Africa.
All of these countries are viewed as significant markets for the active
pharmaceutical ingredient (API) or the manufacture of the API. When
issued, this patent will augment our current intellectual property
portfolio for treatment of liver fibrosis, kidney fibrosis, lung
fibrosis or heart fibrosis."
About Galectin Therapeutics
Galectin Therapeutics is developing promising therapies for the
treatment of fibrotic liver disease and cancer based on the Company's
unique understanding of galectin proteins, which are key mediators of
biologic function. Galectin seeks to leverage extensive scientific and
development expertise as well as established relationships with external
sources to achieve cost-effective and efficient development. The Company
is pursuing a development pathway to clinical enhancement and
commercialization for its lead compounds in liver fibrosis, psoriasis
and cancer. Additional information is available at www.galectintherapeutics.com.
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 its lead compounds will be
successful in treating fibrosis, cancer and psoriasis and that the
patents issued and pending will provide meaningful commercial protection
to the Company. 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. 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, 2015, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160712005201/en/
Galectin Therapeutics, Inc.
Jack Callicutt, Chief Financial Officer
678-620-3186
ir@galectintherapeutics.com
or
Gregory
FCA
Joe Hassett, Senior Vice President
610-228-2110
joeh@gregoryfca.com
Source: Galectin Therapeutics, Inc.
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