Autoimmune Disease Patent Granted to Galectin Therapeutics
June 06 2017 - 7:30AM
Galectin Therapeutics, Inc. (NASDAQ:GALT), the
leading developer of therapeutics that target galectin proteins,
today announced that the Company has been issued U.S. Patent
9,649,327 for "Composition of Novel Carbohydrate Drug for Treatment
of Human Diseases." The patent’s principal claims cover method of
use for GR-MD-02 in patients with an autoimmune disease. The patent
coverage extends through 2032. Patent coverage for autoimmune
disease extends the already robust U.S. and international patent
portfolio for GR-MD-02. Granted patents include composition of
matter, process of manufacture, and method of use. The
breadth of coverage for the patent portfolio includes; various
types of organ fibrosis (liver, lung, kidney), non-alcoholic
steatohepatitis, kidney disease, and cancer, including combination
cancer immunotherapy.
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.
"Our patent portfolio is an important asset for Galectin
Therapeutics. Each patent and patent application is a strategic
building block which reflects present and future business
objectives and protects current core technology," said Peter G.
Traber, M.D., chief executive officer and chief medical officer of
Galectin Therapeutics and inventor on the patent. "This method of
use patent protects the use of GR-MD-02 in the general category of
autoimmune disease which covers multiple types of human diseases
and strengthens our other patents. Galectin Therapeutics has
multiple additional US and international patent applications
pending."
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
Galectin Therapeutics (NASDAQ:GALT)
Historical Stock Chart
From Apr 2024 to May 2024
Galectin Therapeutics (NASDAQ:GALT)
Historical Stock Chart
From May 2023 to May 2024