Galecto Biotech’s Lead Molecule TD139 is Safe, Well Tolerated, with Direct Target Engagement and Biomarker Effects in a Clinical Phase Ib/IIa trial in IPF Patients

Copenhagen, March 10, 2017

Today, Galecto Biotech AB can announce the successful completion of its phase Ib/IIa clinical trial of inhaled TD139. The new drug demonstrates ground-breaking results for patients suffering from Idiopathic Pulmonary Fibrosis (IPF), a chronic and severe disease characterized by a progressive decline in lung function.

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FDA approves an IND from Galecto Biotech for TD139 treatment of IPF patients. – Phase Ib/IIa Trial to Start in the UK

Copenhagen, March 1, 2015

Galecto Biotech AB today announced that the U.S. Food and Drug Administration (FDA) has approved an Investigational New Drug (IND) application for the company’s galectin-3 inhibitor, TD139, for the treatment of patients with idiopathic pulmonary fibrosis (IPF). Simultaneously, the company announced that a phase Ib/IIa trial in IPF patients is due to start shortly in several centers in the United Kingdom (UK).

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Bristol-Myers Squibb Signs Exclusive Option Agreement to Acquire Galecto Biotech AB and its Novel Galectin-3 inhibitor in Development for Idiopathic Pulmonary Fibrosis

November 3, 2014

(NEW YORK and COPENHAGEN – November 3, 2014) – Bristol-Myers Squibb Company (NYSE: BMY) and Galecto Biotech AB today announced that the companies, together with the Galecto shareholders, have entered into an agreement that provides Bristol-Myers Squibb the exclusive option to acquire Galecto Biotech AB and gain worldwide rights to its lead asset TD139, a novel inhaled inhibitor of galectin-3 in Phase 1 development for the treatment of idiopathic pulmonary fibrosis (IPF) and other pulmonary fibrotic condition. Total aggregate payments in agreement have the potential to reach $444 million, which includes the option fee, an option exercise fee and subsequent clinical and regulatory milestone payments.

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Galecto Biotech Initiates Clinical Phase I/IIa trial in IPF

October 9, 2014

Galecto Biotech AB today announced that dosing in a phase I/IIa trial of TD139 has been initiated. The first in man study, which includes both healthy volunteers and patients with idiopathic pulmonary fibrosis (IPF), is aimed at characterizing the safety, tolerability and efficacy of TD139. TD139 is an inhaled inhibitor of galectin-3, a protein known to play a central role in fibrosis in several organs, including the lung.

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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

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Galecto Biotech Accelerates Financing and Secures SEK 40 Million – Investors Support Expansion of Project Portfolio in Galectin Modulator Space

Copenhagen, October 30, 2013

Galecto Biotech AB today announced that the current investor syndicate has provided SEK 40 million to accelerate product development.

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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.

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Galecto Biotech welcomes new COO

Copenhagen, April 2, 2013

Galecto Biotech AB announces today the appointment of Anders Pedersen who joins the recently founded biotech company as Chief Operating Officer. Anders Pedersen will be responsible for managing Galecto Biotech’s project portfolio and will be focusing on building exclusive collaborations and partnerships with its service providers.

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Galecto Biotech attracts strong investor syndicate

Lund, May 2, 2012

Galecto Biotech AB announced today that the company’s first financing round has been expanded and that two new investors, SEED Capital and Sunstone Capital, will join Novo A/S and Merck Serono Ventures in the company’s investor syndicate. The company will use the proceeds to advance its unique galectin modulators, which have the potential to treat a range of life threatening diseases.

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Galecto Biotech AB receives its initial financing in a Seed round co-led by Merck Serono Ventures and Novo A/S

Lund, January 2, 2012

Galecto Biotech AB today announcd its formation of Galecto Biotech AB. Founded by a group of international top-level scientists and biotech executives, the company is supported by Novo A/S, Merck Serono Ventures and Forskarpatent. Galecto Biotech will develop modulators of galectins, initially focusing on novel galectin-3 inhibitors, which have demonstrated the potential to treat a range of debilitating diseases.

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