This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Galectin Therapeutics Announces Relocation Of Corporate Headquarters To Atlanta, GA

Stocks in this article: GALT

Galectin Therapeutics (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced that as of October 1, 2012, its corporate offices will be moved to Atlanta, Georgia, while maintaining a laboratory-based effort in the Boston area. The strategic move will bring Galectin Therapeutics in close proximity of the Complex Carbohydrate Research Center at the University of Georgia, one of the world’s premier centers for carbohydrate research, with which the Company already has ongoing collaborations.

“This reorganization is an important move for the Company that will strengthen our ability to deliver on the promise of our carbohydrate-based therapeutic agents and afford us greater opportunities to attract highly-skilled talent in the field of carbohydrates to our Company,” said Peter G. Traber, MD, President, Chief Executive Officer and Chief Medical Officer, Galectin Therapeutics. “We will be able to expand on the work we are doing with the world-class researchers at the Complex Carbohydrate Research Center while maintaining the excellent work being done with our collaborators at SBH Sciences. In addition to enhancing our development activities, the move and re-organization will decrease our operations expenses which we will put back into our programs in liver fibrosis and cancer.”

“We welcome Galectin Therapeutics to Georgia’s thriving bioscience community, where it will find numerous opportunities to collaborate with our outstanding research institutions,” said Chris Cummiskey, Commissioner of the Georgia Department of Economic Development. “The state has worked hard to cultivate an environment that will help bioscience companies grow, and Galectin Therapeutics decision to locate here is a significant testimonial to the strength of our assets.”

The Georgia corporate office will be located in a technology park area called Northwoods Commons at 4960 Peachtree Industrial Boulevard, Suite 240, Norcross, Georgia 30071. This office will be the site of all executive, strategic, and development functions of the Company, while the Boston area location will continue product development and analysis, cell culture models of drug action and the development of analytical tools for complex carbohydrate drugs. The Boston area laboratory effort will be located at SBH Sciences in Natick, MA, where the Company has had a long-term relationship, and will be led by Dr. Eliezer Zomer, the Senior Vice President for Manufacturing and Development.

“This move and reorganization of the Company will allow continued utilization of the excellent environment for biotechnology in the Boston area while taking advantage of the robust and collaborative research and clinical assets in the Atlanta area,” said Harold Shlevin, PhD, incoming COO of Galectin Therapeutics. “My networks in the local lifescience industry will help foster the Company’s connections within the business and research community that drive new product development and business expansion.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs