Galectin Therapeutics Receives Notice of Australian Patent to be Granted for the Use of GR-MD-02 in Liver, Kidney, Lung or He...
July 12 2016 - 8:56AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712005201/en/
Galectin Therapeutics, Inc.Jack Callicutt, Chief Financial
Officer678-620-3186ir@galectintherapeutics.comorGregory FCAJoe
Hassett, Senior Vice President610-228-2110joeh@gregoryfca.com
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