Magnus Persson appointed new Chairman of the Board at Galecto Biotech

Copenhagen, June 19, 2013

Galecto Biotech AB today announced the appointment of a new chairman of its executive board, effective immediately.

Magnus Persson will be succeeding former Chairman, Kjell Stenberg, who will remain an ordinary member of the Board.
Magnus Persson is a medical doctor and PhD from the Karolinska Institute in Sweden and co-founder of the now publicly traded Aerocrine. He has been working as a clinical doctor and early in his career he was in charge of several clinical trial programs for sanofi that resulted in blockbuster drugs. Magnus has a long history in the pharmaceutical industry and has built up investment funds both in Sweden and abroad with a focus on medical projects – particularly as Partner at HealthCap in Sweden from inception and later as Managing Partner in San Francisco based The Column Group. In these capacities Magnus helped found and develop many successful biotech companies.

Commenting on his new role, Magnus Persson said: “My hope is to be able to help make Galecto Biotech a success in the further development of its world-class research into galectins and galectin modulators. What I bring is an extensive network of contacts and my experience in creating businesses from cutting edge research.”

With the change, Galecto Biotech will be able to develop the Board to conduct the strategic and governance work that is required to take the next step in Galecto Biotech’s evolvement.

“Welcoming Magnus Persson to the Board of Directors is a great pleasure. Magnus is a driven entrepreneur who brings extensive experience from many years in medicine, life science and biotech financing” says Dr. Hans Schambye, CEO of Galecto Biotech. “The new Chairman will lead the way in the further enhancement of our strategic development plans.
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