Galectin Therapeutics Inc. Announces Submission of an Investigational New Drug (IND) Application for the Treatment of Fatty

  Galectin Therapeutics Inc. Announces Submission of an Investigational New
  Drug (IND) Application for the Treatment of Fatty Liver Disease

Business Wire

NORCROSS, Ga. -- January 31, 2013

Galectin Therapeutics (NASDAQ: GALT), the leading developer of therapeutics
that target galectin proteins to treat fibrosis and cancer, announced today
that it submitted an Investigational New Drug (IND) application to the US Food
and Drug Administration (FDA) on January 30, 2013. The IND application
supports a proposed indication of GR-MD-02 for treatment of non-alcoholic
steatohepatitis (NASH) with advanced fibrosis, or fatty liver disease.

“This IND submission is the first step in the clinical development program of
GR-MD-02 for the treatment of liver fibrosis,” said Dr. Peter G. Traber,
President, Chief Executive Officer, and Chief Medical Officer of Galectin
Therapeutics Inc. “We are leveraging our leadership in galectin science to
bring new treatment options for these severely underserved patients and
strongly believe that our novel approach of inhibiting galectin may be the key
to the prevention and reversal of liver fibrosis.”

The IND application includes twenty seven (27) individual studies that
characterize the pharmacology, pharmacokinetics, and toxicology of GR-MD-02 in
a number of animal species, including the effects in various animal models of
disease. Additionally, the application describes the manufacture of the drug
substance and drug product to be used in human clinical trials. This
information provides a description of how the drug works and why we believe it
is likely to be safe in humans and provides a description of its possible
mechanism of action in humans. The main purpose of the IND is to share with
the FDA the extensive non-clinical data that we believe predicts for an
acceptable safety profile when GR-MD-02 is first administered to humans in the
initial early-stage clinical studies. The FDA will review this application and
determine the acceptability of the data to predict the safety of GR-MD-02
before Galectin Therapeutics begins an initial human Phase 1 clinical trial.
It is possible that the FDA will require additional information. If the FDA
determines that the submitted package of data is acceptable, the Company plans
on proceeding with a Phase 1 clinical trial. Future communications will
outline study design and timing.

About NASH

NASH has become a common disease of the liver with the rise in obesity rates,
affecting 9 to 15 million people, including children, in the United States.
NASH is characterized by the presence of fat in the liver along with
inflammation and damage in people who drink little or no alcohol. Over time,
patients with NASH can develop fibrosis, or scarring of the liver, and it is
estimated that as many as 3,000,000 will develop cirrhosis, a severe liver
disease where transplantation is the only current treatment available.
Approximately 6,300 liver transplants are done on an annual basis in the
United States.

About Galectin Therapeutics Inc.

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, statements
that look forward in time or that express management’s beliefs, expectations
or hopes. Such statements are 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 risks and uncertainties that could cause
actual results to differ materially from those described in the statements.
These statements include our goals regarding the IND application, our plans
for a clinical trial and estimates regarding those impacted by NASH. Our goals
regarding the proposed indication of GR-MD-02 and related trials and approval
are subject to factors beyond our control. Our IND application may not be
approved in a timely fashion, if at all, and the FDA may require changes to
our application that could prove time consuming and costly. To the degree we
are able to conduct clinical trials, we may have difficulty in enrolling
candidates for testing and we may not be able to achieve the desired results.
Upon receipt of FDA approval, we may face competition with other drugs and
treatments that are currently approved or those that are currently in
development, which could have an adverse impact on our ability to achieve
revenues from this proposed indication. Plans regarding development, approval
and marketing of any of our drugs, including GR-MD-02, are subject to change
at any time based on the changing needs of our company as determined by
management. To date, we have incurred operating losses since our inception,
and our ability to successfully develop and market drugs may be impacted by
our ability to manage costs and finance our continuing operations. For a
discussion of additional factors impacting our business, see our Annual Report
on Form 10-K for the year ended December 31, 2011, and our subsequent filings
with the SEC. 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.

Contact:

Galectin Therapeutics Inc.
Peter G. Traber, MD, 678-620-3186
President, CEO & CMO
ir@galectintherapeutics.com
 
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