NORCROSS, Ga., April 25, 2017 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis, skin diseases, and cancer, today announced that the Company has received a Decision to Grant from the Japanese 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 Japan. The patent coverage period extends through 2032.
GR-MD-02, a proprietary polysaccharide pharmaceutical preparation that inhibits galectin proteins, is currently in a Phase 2b clinical trial in subjects with NASH cirrhosis and is in preclinical testing for lung, kidney and cardiovascular fibrosis. GR-MD-02 is also being studied in two phase 1b 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 is being studied in two Phase 2a trials in patients with severe skin diseases, including moderate-to-severe plaque psoriasis and atopic dermatitis.
“The allowance of these claims in Japan further strengthens the protection of the intellectual property behind our proprietary compound, GR-MD-02. This is especially important in Japan, which was recently declared the second most attractive drug market in the world. In 2016, Japan’s pharmaceutical market was the 3rd largest globally, behind only China and the United States,” 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, including Brazil, Canada, China, Europe, Israel, Korea, Mexico and South Africa. When issued, this patent will augment our current intellectual property portfolio for treatment of all indications with GR-MD-02 in Japan. .”
About Galectin Therapeutics
Galectin Therapeutics is developing promising therapies for the treatment of fibrotic liver disease, skin diseases, 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 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 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 connection with 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
