Galectin Therapeutics Receives Notice of Chinese Allowance to Grant a Key Patent for Composition of Matter for GR-MD-02
September 12 2017 - 8:30AM
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
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