Galectin Therapeutics Announces Discovery Program For New Anti-Galectin Drugs In Collaboration With The University Of Georgia

Galectin Therapeutics (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, announced today the establishment of a collaborative drug discovery program with Dr. Geert-Jan Boons’ laboratory located in the Complex Carbohydrate Research Center at the University of Georgia. This program is focused on the discovery of new carbohydrate molecules that can be used in the therapy of diseases where galectin proteins play a major role, including cancer and inflammatory and fibrotic disorders.

“Galectins play a critical role in many diseases and developing a pipeline of drugs that can target galectins is an important goal as follow-on compounds for our drugs currently in development and to extend the potential indications and routes of administration,” said Peter G. Traber, MD, President, Chief Executive Officer and Chief Medical Officer, Galectin Therapeutics. “We are extremely excited about our collaboration with the world-class Complex Carbohydrate Research Center and Dr. Boons, who is a world renowned and preeminent carbohydrate chemist. There is no better place in the world to conduct these investigations than the University of Georgia.”

“Galectin Therapeutics’ expertise in galectin science and drug discovery and the ability of my laboratory to prepare panels of complex carbohydrates provides an ideal combination of scientific expertise to develop the next generation of therapeutics for fibrosis and cancer,” said Dr. Geert-Jan Boons of the Complex Carbohydrate Research Center.

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.

About Complex Carbohydrate Research Center, University of Georgia

The Complex Carbohydrate Research Center was founded at the University of Georgia in 1985, and is one of only three centers worldwide dedicated to the study of complex carbohydrates, which play critical roles in cellular communication, gene expression, immunology, organism defense mechanisms, growth and development. The 140,000-square-foot facility is home to 17 interdisciplinary research groups, including four federally designated centers for carbohydrate research. In addition to UGA research projects, the center also provides analytical services and training to university, government and industrial scientists interested in complex carbohydrate molecules. For more information, see www.ccrc.uga.edu.

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.

Copyright Business Wire 2010

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