40 million SEK for Galectin-3 Research to the Founders of Galecto Biotech

Copenhagen, November 28, 2013

The Founders of Galecto Biotech are part of a research team awarded SEK 40 million from the Wallenberg Foundation

Galecto scientists and founders Professors Hakon Leffler and Ulf Nilsson are principal co-investigators in a research project at Lund University awarded 40 million SEK from the Knut and Alice Wallenberg Foundation.

The Foundation is the largest private financier of research in Sweden and also one of Europe’s largest. The purpose of the Foundation established in 1917 is to promote basic research in medicine, science and engineering. As such, the grant is seen as a true recognition of Galecto’s founders and their Galectin-3 science.

The 40 million SEK project will be headed by Professor Mikael Akke at Lund University and will use advanced methodology, including dynamic nmr, X-ray diffraction, neutron diffraction, theoretical methods, biochemical methods, and synthesis to study unsolved biostructural, thermodynamic, and dynamic aspects of protein-ligand interactions, notably protein conformational entropy and protein solvation, – all focused on galectin-3 as a key model system.

- This is a true validation of the important role of Galectin-3 and its usefulness as a model system, says Professor Ulf Nilsson who is also a board member of Galecto Biotech. – We are very pleased and grateful for the opportunities that such a significant sum of money will provide to our research.

Read more about the Knut and Alice Wallenberg Foundation here www.wallenberg.com/kaw/en

About Galecto Biotech AB
Galecto Biotech is a newly founded company, focused on developing novel drugs for the treatment of fibrosis, inflammation and other serious human diseases. The company’s products target galectins or galactoside binding lectins, which are a group of proteins shown to be involved in many disease processes. Galecto Biotech’s high potency galectin inhibitors may open new treatment possibilities for many patients. The company is led by top-level scientists and biotech executives. Galecto Biotech is located in Copenhagen, Denmark, in close proximity to the founders’ research groups.
For more information, visit www.galecto.com

For further information please contact:
Hans Schambye
CEO, Galecto Biotech
Info[at]galecto.com
Tel: +45 26 3737 26