-Renowned Physician and Researcher in Liver Diseases-
NEWTON, Mass.--(BUSINESS WIRE)--May. 1, 2012--
Galectin Therapeutics Inc. (NASDAQ: GALT) (“the Company”), the
leader in developing carbohydrate-based therapeutic compounds to inhibit
galectin proteins for therapy of liver fibrosis and cancer, today
announced entering into a five-year consulting agreement with
world-renowned expert in liver fibrosis, Dr. Scott Friedman of the Mount
Sinai School of Medicine. He will advise the Company on its scientific
programs, clinical trials and the landscape of therapies for liver
fibrosis.
“Dr. Friedman is one of the world’s foremost authorities on liver
fibrosis and its therapy, whose work and perspectives have shaped the
world’s current view of the disease,” said Dr. Peter Traber, President,
Chief Executive Officer and Chief Medical Officer, Galectin
Therapeutics, Inc. “We look forward to his guidance and contributions as
we develop a new class of therapeutics for the treatment of liver
fibrosis.”
“Galectins appear to play a significant role in the pathogenesis of
liver fibrosis, a potentially fatal disease with no efficacious
therapies,” commented Scott Friedman, M.D., Mount Sinai School of
Medicine. “However, preclinical data on the Company’s galectin
inhibitors show very promising activity in the prevention and even
reversal of liver fibrosis. Based on the potential of galectin
inhibition to treat fibrotic liver disease, I am enthusiastic to join
with Galectin Therapeutics as we work to develop potential new therapies
for this highly prevalent and serious disease.”
Dr. Friedman is Professor of Medicine, Chief of the Division of Liver
Disease and Dean for Therapeutic Discovery at the Mount Sinai School of
Medicine. In his recently appointed position as Dean, he oversees an
innovative program of drug discovery and development within an academic
setting in partnership with biotech and pharmaceutical partners, a novel
program within an academic institution. Dr. Friedman has performed
pioneering research into the underlying causes of scarring, or fibrosis,
associated with chronic liver disease, which affects millions worldwide.
He was the first to isolate and characterize the hepatic stellate cell,
which is the key cell type responsible for scar production in liver. He
has written definitive reviews, delivered authoritative lectures and
consulted extensively to industry, the NIH and FDA on the pathogenesis
of liver fibrosis, including therapeutic approaches. He will be awarded
the International Recognition Prize from the European Association for
the Study of Liver Diseases in Barcelona on April 20, 2012, and is the
past recipient, in 2003, of the International Hans Popper Prize awarded
to the outstanding liver researcher in the world under the age of 50.
About Galectin Therapeutics
Galectin Therapeutics (NASDAQ: GALT) is developing promising
carbohydrate-based therapies for the treatment of 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
Galectin Therapeutics Inc.
Maureen Foley, 617-559-0033
Chief
Operating Officer
foley@galectintherapeutics.com
